Coercion Tactic in Cybercrime: What You Should Know

The level of protection against cybercrime is constantly evolving, companies are releasing new software that can automatically detect and remediate threats, and employees' general awareness is increasing. However, along with this, cybercrime is developing. Cybercriminals find new ways to infiltrate systems and use unique tactics to steal data and extort money. Unfortunately, coercive tactics remain a proven and frequently used tactic by criminals. Offline criminal methods such as blackmail, extortion, and threats have moved to the digital plane. The goal is the same, namely illicit enrichment. And whether your business is secure and willing to circumvent these tactics directly determines whether a cyber attack on you or your company is successful. 

What Are Coercion Tactics?

Cybercriminals use coercion tactics to pressure their victims into paying a ransom or providing sensitive information. This usually takes two basic forms of threat. The first is to publicize the obtained data, and the second is to irretrievably destroy this data if the blackmailer's unmet demands. Ransomware attacks is a common coercion tactic where cybercriminals infect a victim's computer with malware that encrypts their files, making them inaccessible. The ransomware extortionists then demand money for a special key to decrypt the stolen or blocked data.

Other coercion tactic include social engineering scams, where cybercriminals impersonate someone else to gain the victim's trust and extract sensitive information, such as passwords or bank account details. Another example is phishing attacks. They commonly target both private individuals and top managers of large companies. Hackers send an email by spoofing the sender's actual address. The most frequent hackers use forged email addresses of bosses or government agencies. After opening such an email, the hacker gains access to the victim's computer. 

Statistics of Coercion Tactics in Cybercrime

As cybercrime continues to rise, coercion tactic have become a popular method used by cybercriminals to extort money from their victims. According to recent statistics, over 70% of businesses have been targeted by cybercriminals using coercion tactics, with ransomware being the most common attack.

Notable cyber groups such as DarkSide, REvil, and Ryuk are responsible for some of the most high-profile ransomware attacks. In contrast, phishing groups and social engineering scammers remain active and continue to target individuals and organizations.

The amount of damage from cybercrime is also increasing every year. Thus, by 2025, experts predict that the total cost of cybercrime will exceed $10 trillion. Therefore, using all possible ways to protect against cybercrime is a vital investment for the successful operation of a business. 

New Dangerous Coercion Tactics in Cybercrime

As technology advances, cybercriminals constantly develop new and more dangerous methods. One new coercion tactic is "leakware." In this case, hackers gain access to sensitive data with commercial or personal value and demand a ransom. Otherwise, they threaten to expose the data or, in the case of commercial hackers, pass strategically sensitive information to competitors. 

In 2023, cybercriminals are constantly developing new and dangerous coercion tactics to extort money from their victims. One emerging trend is using artificial intelligence and machine learning to conduct more sophisticated attacks. This technology allows cybercriminals to identify vulnerabilities in a target's network better and create more convincing phishing scams. They also use the Dark Web to purchase pre-packaged malware and hacking tools, making it easier for them to carry out attacks without advanced technical skills.

How to Bypass Coercion Tactic and Protect Business

Preventing cyberattacks using coercion tactic requires a comprehensive approach, including mobilizing technical means and software and staff training. 

• Training employees on the basic principles of detecting phishing emails and the basic rules of making and storing passwords. 
• Constant monitoring of software and timely updates of security systems to incorporate new protocols for repelling cyber attacks. 
• Automated and regular backups of critical data and keeping them in a safe place for the possibility of complete recovery of all systems in the event of a successful cyber attack. 
• Multifactor authentication is mandatory to increase login security.
• Invest in cybersecurity to provide modern and proven ways to prevent and repel all cyber attacks. 

MBSTechServices offers a full range of cybersecurity services. Our team includes the best experts in their field. They can help assess security risks, implement the necessary measures to prevent threats and provide ongoing support and monitoring to ensure the security of your systems and networks. 

Сoercion tactic is a growing threat to businesses of all sizes. Knowing how these tactics work and responding to threats on time reduces to 0% the chances of criminals launching a successful cyber attack against you. We at MBSTechServices are here to help you protect your business from cybercrime and stay one step ahead of cybercriminals.