Cybercrime in a recession: 10 things every CISO needs to know

CSO Online

Dan Swinhoe

The world likely faces tough financial times ahead and perhaps even a major global recession. As economies stall, how will cybercriminals react? Will they change targets, techniques, or priorities? Will more people, whether inside or beyond your organization, present a threat?

Experiences and insights from past recessions can help us prepare for what's ahead. Cybercrime rose during the last recession in 2008. Regulatory Data Corp said it saw an average rise of 40% in cybercriminal activity for the two years following the recession’s 2009 peak. The UK Government recorded internet-enabled card-not-present fraud (transactions conducted over the internet) to the banks/payment card industry fell during the recovery period following the global crash, falling to £135 million in 2010 from a peak of £181 million in 2008.

In 2009, Reuters reported that internet fraud in the US rose...

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