Financial Crime World

Italy Grapples with Surge in Identity Theft and Financial Crime as Hacker Activities Intensify

A Staggering Increase in Cyber-Attacks

A recent report by CRIF’s Cyber Observatory has revealed a shocking 48.7% increase in cyber-attacks against Italian users in 2021, with the number of alerts related to data found on the dark web skyrocketing to 1.8 million - a whopping 57.9% jump from the previous year.

The Dark Web: A Hotbed for Hackers

The dark web, a hidden corner of the internet, is where hackers congregate and share stolen personal information, including email credentials and phone numbers. This valuable data can be used to carry out scams such as phishing or smishing, leaving unsuspecting victims vulnerable to financial losses.

Companies Also Targeted

But it’s not just individual users who are at risk - companies too are being targeted by cybercriminals. The National Recovery and Resilience Plan has allocated 623 million euros to strengthen Italy’s defenses against cybercrime over the next three years, highlighting the government’s commitment to tackling this growing threat.

CRIF’s Cyber Observatory has analyzed the trends surrounding exposed data on both the open web and dark web environments, revealing that Italian users’ personal data is predominantly being circulated online. In fact:

  • Email credentials are the most commonly found type of data
  • Phone numbers come second
  • Simple combinations such as “123456” and “password” are among the top three most common passwords found on the dark web

Threats of Identity Theft

Threats of identity theft are particularly prevalent in Italy, with cases increasing by 44.1% in the first half of 2022 compared to the previous six months. The statistics break down as follows:

  • Men represent the majority of affected users (63.2%)
  • The Centre region has seen the highest number of people affected
  • Cities like Rome, Milan, Naples, and Turin have emerged as hotspots for cybercrime, with Rome accounting for 18.8% of total cases

Protecting Yourself from Cyber Risks

As Italy continues to grapple with this growing threat, it is crucial that individuals take steps to protect their personal data and financial information from falling into the wrong hands. CRIF’s Cyber Observatory provides valuable insights and recommendations on how to mitigate cyber risks, emphasizing the importance of conscious decision-making when dealing with online security.

Conclusion

In conclusion, Italy must remain vigilant in its efforts to combat identity theft and financial crime as hacker activities intensify. By understanding the trends and threats surrounding exposed data, individuals can take proactive steps to protect themselves from falling victim to these crimes.