When most people think about social media and cybersecurity, they typically think about hackers taking over Instagram accounts or Facebook Messenger scammers taking private information. It’s for good reason that this is top-of-mind. The Identity Theft Resource Center’s 2022 Consumer Impact Report revealed that social media account takeovers have grown by 1,000% in one year.
While there are an estimated 30,000 daily cyber attacks on business websites, there are roughly ten times as many attacks against social media accounts every single day, equating to roughly 1.4 billion accounts every month. Social media attacks and scams have become pervasive problems, with threat actors finding innovative new ways to deceive users and steal their information.
CISA issues a joint advisory on Russia’s Snake malware operation, hackers use ChatGPT lures to spread malware on Facebook, and a new phishing-as-a-service tool appears in the wild.
All businesses, regardless of size or industry, are potential targets for cybercriminals. As businesses become more aware of the importance of password security in preventing data breaches, they focus on the most obvious areas of weakness, such as employee email accounts and network passwords. However, social media passwords present unique security challenges that organizations may be ill-prepared to handle.
