Page 48 - Cyber Defense eMagazine for August 2021

Money

Similar to other types of crime, money is by far the most common motivator for cybercriminals. As data
becomes more valuable to businesses, it represents an increasingly substantial payday for hackers. In
2020, the average data breach cost $3.86 million, and in some industries, that figure’s as high as $7.13
million.

A cybercriminal can take multiple paths to a financially motivated attack. Typically, the most lucrative are
ransomware and intellectual property theft. These often coincide, with hackers demanding a ransom for
trade secrets else they sell them on the dark web. Consequently, companies with more sensitive data
should focus on defending against these types of attacks.

Since money is such a common motivator, businesses should take inventory of their most valuable data.
Whatever has the most monetary value if lost, stolen or sold should receive the most protection. Personal
identifiers, insider secrets and financial information typically fall into this category.

Frustration

While money is the most popular motivator, it’s far from the only one. Some cybercriminals work out of
anger and frustration against a company or industry. These criminals could be disgruntled employees or
customers who feel a business treated them poorly, but they share a common goal. They want revenge.

Frustrated cybercriminals may seek to get money out of an attack, but they want to cause disruption more
than anything. If they’re a company insider, this is troubling since they’d have easier access to cause
more damage. Regardless of where they come from, the best way to protect against these types of
attacks is to prevent them in the first place.

Treating employees and customers well will go a long way. Companies should also listen to people,
asking for client feedback and talking with workers. These discussions can help assuage would-be
cybercriminals’ anger and reveal if someone feels frustrated and may be a threat.

Cyber Defense eMagazine – August 2021 Edition 48
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