Abu dhabi: Over 60% of financial cyberattacks originate from stolen login details, the Cyber Security Council has revealed, urging individuals and users in cyberspace to enhance the protection of their financial information. The Council emphasized that financial data is a primary target for online fraudsters seeking to steal assets belonging to individuals, companies, and institutions.
According to Emirates News Agency, the Council has issued a call for increased caution when handling financial data online, advising individuals to ensure that such information is properly and securely protected. It highlighted that safeguarding data, particularly financial data, across the internet and cyberspace reduces the chances of falling victim to cyber threats, online fraud, and identity theft. These attacks may involve direct attempts on bank accounts and financial information or indirect fraud through unauthorized access to personal data and accounts, leading to theft of financial information.
In its weekly awareness campaign, the Council stressed the vital role of vigilance and caution in preventing fraudulent attacks on financial and banking data. It urged individuals to change their online financial data usage behaviors, recommending secure payment methods, avoiding storage of financial information on electronic devices, regularly monitoring bank accounts, steering clear of fake advertisements, and verifying received messages. The Council noted that fraudsters increasingly use advanced technologies to mimic banks and trusted financial institutions to deceive users and steal their financial data.
The Council further advised individuals to take measures to prevent or reduce attacks targeting financial data through identity theft or fraudulent transactions, which could result in significant financial losses. It reported that 60 percent of cyberattacks commence with the theft of login details, advising against storing sensitive passwords on unsecured devices, and recommending regular reviews of privacy settings, deletion of untrusted applications, enabling two-factor authentication, and keeping operating systems and software updated.
Additionally, the Council cautioned against using open or free Wi-Fi networks for banking activities or financial transactions due to their vulnerability to breaches. It stressed the importance of strong, unique passwords for bank and personal accounts linked to financial services and enabling instant bank alerts for real-time notifications of account activity to facilitate swift responses to breaches or electronic fraud.
The Council reiterated the significance of awareness and caution against electronic fraud, urging vigilance before clicking on or sharing electronic links and refraining from disclosing personal or financial information. It noted the necessity for ongoing awareness of evolving cyber risks due to rapid technological developments.
The Council also mentioned that cybersecurity presents a major challenge in the digital space, with these preventive measures supporting government efforts to tackle digital challenges associated with technological advancements. The Cyber Pulse awareness campaign, launched by the Cyber Security Council for the second consecutive year across social media platforms, underpins the UAE's efforts to create a secure cyberspace, promoting cybersecurity culture, enhancing digital awareness among families and individuals, and strengthening cybersecurity practices to ensure citizens' and residents' safety and privacy amid rapid digital transformation.
