Cybercriminals do not take a break over the holidays.

The holiday season is, for the majority of people, the ideal time to catch up with loved ones, take some well-earned time off, and eat delicious home-cooked meals. However, it is the ideal time for cybercriminals to strike.

According to data, the period between Christmas and New Year’s is when cyberattacks spike because people and businesses are less vigilant.

 

Do Cyberattacks Rise During the Holidays?

Cybercriminals have increasingly turned to ransomware to assault their targets in recent years. This sort of malware freezes or encrypts files on a machine until a ransom is paid, increasing the likelihood of making money.

In a report published in December 2021 by experts at the UK-based cybersecurity firm Darktrace, it was revealed that ransomware attacks rise around the world over the holiday season.

According to Darktrace, the estimated number of ransomware assaults during the holiday season increased by 30% from the monthly average. In addition, the researchers found that compared to January and February, there was an average rise of 70% in attempted ransomware assaults in November and December.

Therefore, it should come as no surprise that governments from all over the world admonish firms to exercise caution at the end of the year.

 

How Holidays Expose You to More Risk

Over various holidays, several of the biggest cyberattacks have taken place. These times of the year also saw an uptick in smaller attacks. Here are six explanations why:

1. 1. IT specialists are not in the office.
      
      The fact that there are fewer people working in offices during the holidays may be the most obvious explanation for these increases in cybercrime. Only skeleton crews of IT personnel will be present in the office. Organizations become more exposed to hazards when there are fewer individuals available to respond to them.

      Teams will need more time to react even if they can spot these risks as they emerge. It might be too late to halt the harm by the time security personnel arrives at the office from their residences. Cybercriminals are aware of this and will keep taking advantage of it.

1. 1. Employee Distraction
        Holiday cybersecurity frequently falls short of regular requirements, even when employees are present. Businesses are frequently busy over the holidays, so employees may be preoccupied with other tasks. Employees may overlook warning indications of a cyberattack or engage in bad cyber hygiene in the haste to complete other responsibilities. 95% of data breaches are the result of human error, and distracted employees are more prone to make mistakes.

      Cybercriminals, therefore, have a better chance of succeeding if they launch an attack at busy times like holidays.

1. 1. There is more valuable information to steal.
      
      Attacks increase over the holidays as a result of the abundance of data that is readily available. This tendency is understandable given that merchants would be the target of 24% of all cyberattacks in 2020. Regarding shopping peaks, businesses have access to more client data, so a cyberattack would yield greater rewards.

      Cybersecurity is essential during the holiday shopping season online because an influx of customers makes a company a more tempting target. This trend is likely to continue to increase as e-commerce represents an increasing percentage of retail sales.

4. 4.  Increasing Stress on Networks
        Similarly to this, as businesses grow, their networks experience more stress. Criminals are aware that this increase in traffic could render them more vulnerable to a cyberattack. During peak hours, a hacker may evade detection, or security problems may appear amid slow, stressed networks.Businesses might not have planned for this surge in traffic, which would cause their networks to sluggish during peak usage periods. Attacks involving distributed denial of service (DDoS) may become simpler under that situation. Similarly, this strain can make it challenging to defend against these assaults.

5. 5. Phishing Might Be More Successful
        People’s susceptibility to human engineering assaults is another aspect of Christmas shopping cybersecurity. Due to the difficulty in detection, phishing attacks in particular can be extremely successful at this time. It is simpler to hide a phishing email when users are already receiving a lot of unsolicited emails and ads.

      The average individual could quickly fall for a phishing attempt around the holidays, for instance, if they get a “Merry Christmas” mail or some kind of special offer. However, if an employee falls for such a con, the entire business could be put in danger, especially if they use the virus and permit it to propagate throughout the corporate networks. This would result in data being seized and held for ransom in the case of a ransomware attack, which might cost millions of dollars in damages.Christmas time brings with it an almost constant stream of giveaways, referral programs, and other offers of a similar nature. By joining one that is operated by a bad hacker, you run the risk of compromising the security of your password and granting thieves access to private data.These attacks are very lucrative for cybercriminals because they can cost up to $47 million in some cases. Additionally, during the holidays, distracted and busy workers are the best targets.

5. 5. Ransomware’s Chances of Success are Higher
        Cyberattacks of all kinds are more likely to be successful over the holiday season, not just phishing. In 2021, 89% of firms reported being targeted by ransomware attacks during the holiday season. This is partially due to the general surge in cybercrime, but distressed organizations may be more likely to pay ransoms.Businesses might not have the time or resources to make an effort to retrieve stolen files during the hectic holiday season. These attacks are more successful because people may find it more enticing to pay a ransom to have them back sooner. Cybercriminals can use the opportunity to profit quickly.

How to Protect Yourself This Holiday Season

A breach might happen even if a business follows all regulations. Regardless of size, every firm must have an emergency response plan to assist staff and IT experts in spotting security breaches quickly and taking action to safeguard company networks.

In order to guarantee stringent access control and add an additional level of security, businesses should invest in dependable backup solutions and adopt a decentralized strategy for data security. 

For the majority of company owners, the holidays are a hectic time as they get ready to serve customers eager to find Christmas bargains or even as they get ready to take time off from their enterprises to spend with family and friends. Hackers will search for weaknesses in your systems since they know you are diverted from your primary responsibilities and daily activities. With these suggestions, you can stay safe during this busy period.

1. 1. During the holidays, be on the lookout. Avoid getting sidetracked during busy times. When hackers know that your concentration is on seasonal revenue and retail consumer interaction, they especially target holidays. Maintain visibility during the holidays, schedule routine vulnerability checks, encourage everyone on your staff to follow best practices for cybersecurity, and keep critical servers and systems patched.

1. 1. To find worthwhile targets, adopt a hacker’s mindset. Threat actors want to utilize your login information or resell your sensitive data because they are financially incentivized to do so. Targets that are appealing include supply-chain partners, databases from loyalty programs, gift card stock, and credit card data. With the help of a managed security platform, you can monitor suspicious activity continuously, receive alerts when it changes, and rapidly discover intrusions before additional damage is done.

1. 1. Prevent password and login compromise. The key corporate websites and systems are accessible through your privileged accounts, including such system login details and IT vendor accounts. impose “least privilege” and role-based access rules, require secure passwords, and disable login details for former workers and contractors. Don’t make it simple for hackers to purchase and sell the logins for your company on shady forums.

 

This Christmas, Defeat Cybercrime and Enjoy a Peaceful, Festive Holiday Season 

This time of year presents an ideal storm of conditions that make it much simpler for evil individuals to attack and wreak harm. Many businesses might overlook the significance of holiday cybersecurity. As the holidays get near, be sure your cybersecurity protections have been strengthened and that your staff has received training on how to spot seasonal risks and scams.

Especially for your business, cyber security is a significant concern over the holidays just like it is at any other time of the year. Contact us right away to make sure you are implementing cutting-edge security procedures.

Cybercriminals don’t take the holidays off, and fortunately, neither do we.