Tim Sadler, chief executive officer at Tessian, said: “This report highlights the harsh reality that cybercrime continues to boom. Credential theft, in particular, is revealed as a lucrative business for cybercriminals today, given that these pieces of data can open the door to further crime.
“It's therefore so important that people are using strong passwords and two-factor authentication to access their accounts and are aware of the ways their data and credentials could be stolen and used against them in phishing or social engineering attacks, for example. These are simple preventative steps to help avoid falling victim to cyber crime.”
Chris Ross, SVP International for Barracuda Networks, added the NCA was playing a “critical role” in the fight against cyber crime, providing education, awareness and pursuing online attackers in an effort to bring them to justice.
“Whilst this report demonstrates that huge progress is being made, the fact is that sophisticated ransomware attacks on businesses and public sector organisations are on the rise,” he said.
“Failure to have these systems in place and train employees to spot potential threats, could lead to cyber criminals obtaining and encrypting data, paralysing businesses and critical national infrastructure.”
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