Cybercrime – The Hidden Side Effects Of Covid-19

It is estimated that by 2021 cybercrime will cost the world $6 trillion annually¹, and while Covid-19 is not the only factor contributing to that figure, the pandemic has created the perfect hotbed for increased cybercriminal activity. In March 2020 alone there was a 600% increase in Covid related phishing emails². In the light of Covid-19, it is important that both individuals and organisations are aware of the way threats may present themselves and ensure necessary steps are taken to prevent falling victim to these attacks.

What is unique about the pandemic that makes cybercrime so rife?

Prolonged periods of isolation and uncertainty concerning the future has led to widespread feeling of stress and anxiety, making individuals particularly susceptible to cybercrime. Cybercriminals know this and seek to exploit these vulnerabilities in the form of opportunistic and untargeted attacks.