IoT devices and their vulnerabilities
IoT device usage is Projected to exceed 15 billion by 2025 and 25 billion by 2030. 8 Cybercriminals are relying more on social engineering tactics to deceive people into opening phishing emails and clicking on links that contain malware. While phishing attempts are not new, cybercriminals have become more personalized in their cyberattacks, making them appear more legitimate. They target businesses and services that store private customer data, which is the most valuable asset in e-commerce. 9 Once cybercriminals gain access to that data, they can use it for identity theft, fraud, and other cybercrimes.
Risks to Online Privacy • More than two-thirds of adults across 10 countries are more alarmed about their online privacy than ever. * • Yet, 61% of people across 10 countries admit to accepting certain risks to their online privacy for convenience. * • A total of 85% of customers across 10 countries want to do more to protect their online privacy but nearly half don’t know how. * Without the expertise to protect their assets, customers may look to their financial institutions for help.
8 “Addressing the Complexities of Cybersecurity at Fintech Enterprises,” ISACA Journal, Oct. 5 2022. 9 “Cyber security threats: A never-ending challenge for e-commerce," Frontiers in Psychology, Oct. 19, 2022. * Global data based on an online survey of 10,003 adults in 10 countries conducted by The Harris Poll on behalf of NortonLifeLock, November - December 2021.
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