As social networks have gained billions of users around the world, cybercriminals see it as another opportunity to benefit.
According to data from Atlas VPN, social media attacks rose by 83% from the start of the year until September. In addition, fraud-related social media threats accounted for most of the attacks encountered in Q3 2021.
In January 2021, the average target organization suffered nearly 34 attacks carried out through social media. In February, social media threats jumped up by 25% to 42 attacks per single enterprise. However, average threats fell to about 38 in March.
In the second quarter of 2021, the average of attacks carried out through social media increased significantly. They grew from nearly 41 in April to about 49 threats in May and June per organization, a 20% increase.
In the third quarter, the average target organization encountered another significant growth of attacks committed through social media. In July, social media threats rose to 58 per enterprise. While the attack average fell slightly in August to 57, it reached its peak in September, with 61 threats being carried out through social media.
Some industries are more vulnerable to social media attacks. Payment services companies experienced nearly 63% of all attacks carried out through social media. Industries that operate financial transactions are often targets for cybercriminals.
Threat actors usually can make a lot of money by launching a ransomware attack or stealing credit card and other sensitive information with phishing threats.
Broadcast media encountered 9% of the total attacks committed through social media, followed by Dating services (5%) and e-commerce industry (4%)..