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Study Reveals Money is Hackers’ Main Motivation

Black Hat Hacker Cybercrime

Study Reveals Money is Hackers’ Main Motivation

Morrissey Technology – Surveys reveal that cybercrime is increasingly targeting industries in Indonesia with the motive of obtaining ransom, aka ransomware. Cyber ​​security company Ensign Infosecurity, through its 2024 Cyber ​​Threat Landscape Report, revealed the three most common motives for hacking; ransom (42 percent), access sales (38 percent), and data sales (8 percent).

“The main goal is still ransom or asking for money. What we see is still consistent in 5 regions (Indonesia, Singapore, Malaysia, Greater China Region and Australia) except in South Korea, which means hacking, ransomware, encryption, asking for ransom,” said Adithya Nugraputra, Head of Consulting, Ensign InfoSecurity Indonesia, in Jakarta, Wednesday (15/5).

The company also noted that 46 percent of all cyberattacks observed showed attackers’ interest in stealing credentials (account username and password pairs), initial access, and data.

“42 percent of all observed cyberattacks attempted to extort FOR4D organizational victims for money. This reflects the global increase in ransomware threats against enterprises,” continues the company’s official statement.

According to Appknox, hackers are basically divided into three types based on their motives. First, Black Hat Hackers. These ‘black hat hackers’ are essentially malicious hackers who infiltrate networks and systems by creating and spreading malware. They are generally motivated by material gain, although sometimes for fun. Second, White Hat Hackers. These ‘white hat hackers’ are also known as ‘ethical hackers’. They are often contracted by corporations and government agencies to check their systems for security vulnerabilities.

This type of hacker applies commonly known cybersecurity techniques such as penetration testing and thorough vulnerability assessments to ensure that the security system is strong. Third, Gray Hat Hackers. This type of hacker has the characteristics of a mixture of black and white hat hackers. However, they generally carry out hacking missions without asking permission from anyone. Most of them report discovered vulnerabilities to the relevant parties, but they also demand compensation in return. If they don’t get the credit they deserve, they could exploit that vulnerability for their own benefit.

Main target

Ensign Infosecurity also revealed the most 2023 cyberattacks targeted the technology, media and telecommunications (TMT) industry at 14.1 percent. Apart from that, the financial services industry (24 percent), the public sector (12 percent), the energy industry (8.3 percent), and the manufacturing industry (8 percent). The company revealed three main reasons why cybercriminals attack the TMT industry FOR4D.

1. They are integrated into digital business activities with access and connectivity to sensitive data handling.

2. Technology-based startups drive IPO activity (initial public offering of shares) and economic activity.

3. Technology investment flows into Indonesia, attracting financial profits, as well as information theft and espionage.

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