The dark web is a critical component of the internet that is expanding as at an alarming rate. Cybercriminals can buy personal information from darknet sites in an instant. With 750 terabytes spanning across the entire dark web, you and your business’s data may be at risk.
What’s Happening on the Dark Web and Why It Matters
The darknet allows for the anonymity that the normal internet doesn’t provide. It is only accessible through special software known as Tor. The number of darknet websites has grown and accounts for roughly 4% of the internet today.
The darknet has exploded in growth as data becomes more valuable for cybercriminals to attain. With this in mind, cybercriminals flock to the darknet to offload their wares.
14.4 million consumers in the US became victims of identity theft in 2019. With an ever-increasing demand for personal data, cryptocurrency has made it easier than ever to get paid in an instant. It means your organization’s data may be sold without you knowing about it.
Ransom attacks doubled in the first half of 2021, and there are no signs of this slowing down. Companies are increasingly aware of the importance of cybersecurity. Despite this, breaches continue to occur, and data continues to be stolen and sold.
In April 2021, compromised LinkedIn passwords were up for sale on the dark web for just $2 each. More than 500 million LinkedIn accounts became accessible to cybercriminals. Data will be scraped, stolen, and sold as long as black hat invaders have a place to offload their wares.
If your company isn’t aware of the dangers the dark web poses to your business, it may be time to start paying attention.
3 Reasons Why Enterprises Need to Pay Attention to the Dark Web in 2021 and Beyond
Considering the massive amounts of data stolen by cybercriminals every year, enterprises need to monitor what happens on the dark web, and here are three good reasons why:
1) The darknet is increasing in probability.
The darknet is synonymous with drugs and guns. However, they account for just a fraction of what is sold. The biggest areas of sales are stolen credit cards and personal data. Enterprise’s need to monitor what’s going on under the curtains. If they don’t, the fallout can be massive, as GoDaddy has just discovered. A single compromised password led to the breach of 1.2M customers data.
With Equifax paying $575 million in their 2017 data breach, no giant is safe. Data breaches can be prevented with precautionary measures. With that in mind, increasing enterprise security should be a priority moving forward into 2022 and beyond.
Enterprise IT security should also consider engaging with security vendors who offer darknet monitoring services. It will improve their security posture and reduce risk.
2) Hackers are getting smarter
Even though your enterprise may feel safe at the moment, each year, cybercriminals get more advanced. With the increase in the ability to stay anonymous and cybercriminals more intelligent, data breaches are inevitable.
Enterprises cannot afford to have sensitive information sitting on servers susceptible to data breaches. If your company turns a blind eye to cyber security, it can lead to a ransom attack. It will cost magnitudes more than an investment into security. It will also have other impacts, such as reputational damage, which can cripple a business.
The cost of a data breach is estimated as being from $3.86 million to $4.2 million for large enterprises. It makes it even more important to start paying attention to the dark web.
3) It’s difficult to track cryptocurrency transactions.
Stolen data posted on the dark web is difficult to track. Once stolen data is gone, it’s near impossible to trace where it ends. Stolen data is often aggregated to make it more valuable.
Cybercriminals can profit from stealing credit cards, personal information, and other sensitive data from your enterprise if you don’t have up-to-date security measures.
Thankfully, companies with large volumes of data can monitor darknet activity in real-time. Using sophisticated analysis tools, they can detect suspicious behavior. It helps ensure your enterprise is safe from intruders.
Once your security team has been alerted to an attack, they can take immediate action against hackers before they become a larger problem.
If your business doesn’t already monitor activity on the dark web, now is a good time for you to start doing so to protect your customers and company reputation at all costs.
By using an E2E encryption platform, you can make sure stolen information does not end up in the hands of cybercriminals who may use it to their advantage.
If your enterprise does not use such a security protocol, you need to implement it as soon as possible to protect your business from lawsuits, cyber assaults, and financial loss.
Flare provides a Digital Risk Protection solution to protect your sensitive data. Their AI-driven technology monitors the dark, deep and clear web as well as your digital footprint. It searches for data leaks and delivers actionable intelligence.