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Overview of Gen's Q4 Threat Report

Gen Digital Inc. has recently unveiled its Q4 2024 Threat Report, showcasing a monumental rise in online threats that ended the year on a record-breaking note. Through the months of October to December, the company reported blocking a staggering 2.55 billion cyber threats, averaging to 321 threats per second. This data highlights the alarming reality of online security amidst rising cases of social engineering attacks, which accounted for a remarkable 86% of all blocked threats.

Increased Risks in Cyber Safety

According to Siggi Stefnisson, the CTO of Cyber Safety at Gen, the nature of scams is evolving. As various facets of digital life become integrated, scams are increasingly designed to prey on human emotions—particularly during peak shopping seasons and significant societal events such as elections. The report reflects an alarming trend where people lost not only money but also control over their personal information.

In light of the advancement of AI technologies, 2025 is expected to witness an even greater surge in risks associated with cybercrime. These new-age criminals are leveraging AI to enhance their schemes, indicating a need for heightened vigilance and protection.

Social Media: A Hotbed for Scams

Social media platforms are now ground zero for scammers, with Facebook accounting for an overwhelming 56% of recorded scam threats. Following Facebook, YouTube and X (formerly Twitter) contain 24% and 10% of the threats, respectively. Notably, messaging app Telegram has seen six times more threats than WhatsApp, showcasing the innovative tactics employed by scammers using privacy features to obscure their activities.

The report delves into how scammers exploit social interactions on these platforms:

• - Malvertising accounts for 27%, misleading users into downloading harmful software or navigating to dangerous websites.
• - Fake online shops make up 23%, where individuals unknowingly share sensitive financial information.
• - Phishing attempts constitute 18%, as scammers aim to extract personal data like passwords and credit card details.

Year-End Surge in Financial Fraud

The last quarter of the year is traditionally a peak time for financial fraud, exacerbated by seasonal buying trends. Notable cases from Q4/2024 include:

• - The notorious CryptoCore group, which executed the largest deepfake crypto scam, camouflaging their fraudulent activities with deepfake videos of influential figures like Elon Musk,
• - Mobile banking trojans such as DroidBot and ToxicPanda, designed to harvest banking information, saw significant upticks in prevalence and usage.
• - The emergence of predatory apps labeled SpyLoans, which extort users under the guise of offering quick financial solutions.

The Rising Threat of Personal Data Loss

As consumers become increasingly vulnerable to identity theft, the phenomenon of Scam-Yourself Attacks gained traction, where individuals unwittingly engage in actions that expose their sensitive data. In Q4, Gen intercepted attacks aimed at over 4.2 million individuals, marking a 130% increase. This growing trend showcases the psychological manipulation employed by cybercriminals to execute these scams.

Recognizing the urgent need for enhanced protective measures, Gen introduced a feature across its Norton, Avast, and AVG brands known as Clipboard Protection, aimed at blocking menacing clipboard-based threats before they materialize.

Additionally, ransomware continued its disturbing rise, amplifying 50% from the previous quarter, emphasizing the looming threat for both individuals and organizations globally.

For more insights on the alarming state of cyber safety and preventive measures, visit Gen's Threat Report.

About Gen Digital Inc.

Gen Digital Inc. is passionately committed to enabling Digital Freedom through its renowned cybersecurity brands, which include Norton, Avast, LifeLock, and others, catering to nearly 500 million users in over 150 countries. Learn more about their offerings in cybersecurity and privacy protection at GenDigital.com.