Hackers are ramping up attacks on retirement accounts

When we think of cyber attacks we tend to think of ones against companies, large or small, but we as cybercriminals become more sophisticated we are seeing them target a different set of targets. One of these newer targets includes new types of financial accounts, which bleeds over in data privacy, a key aspect of the Foxberry Tematica Research Cybersecurity & Data Privacy Index. 

Bank accounts are a top target for hackers, and retirement accounts may not be far behind. Cybercriminals are moving toward retirement and loan accounts. Although the number of consumers affected by identity fraud has declined between 2017 and 2018, hackers are targeting new types of financial accounts — such as customer rewards programs and retirement plans, according to the 2019 Identity Fraud Study from Javelin Strategy & Research.

Part of the problem is identity theft, which can provide hackers the keys to getting into important accounts.

With the burgeoning 5G market expected to hit a tipping point in the coming quarters, giving rise to the industrial internet (otherwise known as the internet of things), we suspect this is only one of many new target vectors we will be reading about in the coming months.

Source: Hackers are ramping up attacks on retirement accounts — how to keep yourself safe - MarketWatch