Hackers are evolving. A recent ITRC Data Breach Report revealed a record-breaking number of data breaches affecting over 1.7 billion victims—a staggering 312% increase from 2023.
Reports show alarming increases in attacks across multiple sectors, with surges in financial services and healthcare. As cybercriminals target our digital assets, reviewing protection for all your valuable assets, including your home, is important.
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1. Disguising malware as banking apps
Cybercriminals have created sophisticated fake banking apps and financial tools targeting smartphone users. These Trojans appear legitimate but secretly capture your banking credentials when you log in.
Before downloading any financial app, verify it through your bank or financial institution’s official website. Stick to official app stores and check the developer name, reviews, and download count. Legitimate financial apps will have substantial download numbers and high ratings from many users.
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2. Hacking employers to access retirement accounts
Hackers often target companies financial operations, sending fake bills, posing as trusted vendors, and redirecting employee paychecks to criminal accounts.
Contact your retirement plan administrator and set up additional security measures and login notifications for account access. Keep emergency funds in a secure, separate account with strong authentication can prevent cybercriminals from accessing all your money at once.
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3. Accessing gaming accounts with stored payment info
Popular gaming platform Roblox recently experienced a significant security incident affecting millions of users. Many of these users are parents and grandparents who set up accounts to connect with younger family members. Hackers targeted the platform’s payment system, where many users store credit card information.
The attack demonstrates how cybercriminals are moving beyond traditional financial targets to gaming platforms with less robust security. If you have a Roblox account, immediately change your password and remove any stored payment methods until the company confirms all vulnerabilities have been addressed.
With hackers targeting even gaming platforms for financial gain, proper documentation of digital accounts is essential for estate planning and immediate family security.
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4. Stealing financial data from healthcare breaches
The healthcare sector experienced a 22% surge in cyberattacks in 2024, making it one of the hardest-hit industries. These breaches expose medical records, financial information, and Social Security numbers, increasing the likelihood of identity theft and fraudulent billing.
Review your insurance statements regularly for unfamiliar charges, and consider freezing your credit to prevent unauthorized accounts. If you rely on Medicare, ensuring you have the right coverage and protections can help safeguard your health and finances.
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5. Cracking weak password managers
According to Picus Security, a cybersecurity firm, cyberattacks on password managers were three times more likely to occur in 2024 than in the year prior.
Despite these risks, security experts still recommend using password managers. However, you should take an extra step and implement two-factor authentication with your cell phone.
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6. Phishing emails that look real
A resurgence of an old but effective scam continues to hit PayPal users. Cybercriminals send legitimate-looking emails claiming to be from DocuSign with PayPal branding, stating you need to sign an important document regarding your account. The link leads to a convincing but fake PayPal login page that captures your credentials.
Once scammers have your PayPal login, they can drain connected bank accounts within minutes. To protect yourself, never click links in emails claiming to be from financial services. Instead, open a new browser window and log in securely to your account. While protecting your online accounts is essential, savvy consumers also look for legitimate ways to save money on everyday expenses.
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7. Breaking into home networks for financial access
Smart home devices, outdated routers, and incorrect WiFi and firewall settings have created new entry points for hackers to access personal and financial information. Many older routers and internet-connected devices lack proper security updates, creating vulnerabilities throughout your home network.
Protect yourself by updating your router firmware (or replacing older models), setting up a guest network for smart devices, and regularly changing your WiFi password. Consider investing in a network security device that monitors all traffic and alerts you to suspicious activity.
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Staying protected – old rules still apply
Remember the first rule of cybersecurity: Legitimate organizations will never demand urgent action through email or text. Scammers use urgency to trick victims into making hasty decisions that could put their finances at risk.
When in doubt, verify requests by calling the company directly using the number from your statement or their official website—not the one provided in the message. A cautious approach can help protect your assets from fraudsters looking to exploit rushed decisions.
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