Security News > 2022 > February > Social media attacks surged in 2021, financial institutions targeted the most

Social media as a threat channel saw a two-fold increase in attacks throughout 2021, according to a report from PhishLabs.

In Q4 and throughout 2021, PhishLabs analysed hundreds of thousands of phishing and social media attacks targeting enterprises, their employees, and brands.

According to the findings, the number of social media attacks per target increased 103% from January 2021, when enterprises were experiencing an average of just over one threat per day.

"2021 was another record-setting year for social media as a threat channel. Threat actors use social media to commit fraud, impersonate brands and executives, and launch a variety of cyber threats, forcing security teams to monitor a variety of platforms for activity targeting their enterprise," said John LaCour, Principal Strategist at HelpSystems.

"Financial institutions were the most actively targeted by threat actors since their services are often used broadly across several business sectors."

70% of advertisements for stolen data took place on chat-based services and carding marketplaces in Q4. The percentage of attacks targeting financial institutions increased from 33.8% in Q1 to 61.3% of all phishing sites observed in Q4. "While threat actors continue to target high-value industries, they are also investing resources into exploiting ill-prepared organizations through platforms like social media," said LaCour.

News URL

https://www.helpnetsecurity.com/2022/02/21/social-media-attacks-2021/