It's early November, and consumers are making their lists and checking them twice.
Holiday shopping and related promotions are already in full swing. Retailers like Amazon already held early Prime Days in October. Numerous other big-box retailers are offering Black Friday-style discounts to appeal to consumers' desires to stock up on gifts earlier this year.
Rising prices and inflation are top of mind for many consumers, meaning shoppers are counting on these discounts more than ever. According to a survey conducted by the National Retail Federation (NRF), 44% of holiday shoppers say that it's better to purchase their gifts and seasonal items now, as they expect inflation will continue to impact prices for the duration of 2022. The same NRF survey also showed that 58% of shoppers say promotions and sales are more important when shopping for holiday items and gifts (only 48% said the same last year).
As many prepare for the holiday season and online shopping remains top of mind, cybercriminals are dusting off their old tricks and preparing for one of the busiest times of the year.
With more people shopping online than ever before, cybercriminals are now looking to target the higher traffic flows online as shoppers look for the latest holiday deals.
Fortinet's FortiGuard Labs' Derek Manky and Aamir Lakhani provide some insight into how shoppers and organizations can protect themselves.
Fortinet is at the forefront of dynamic changes in cybersecurity and networking as an industry leader for over 20 years. Fortinet's founder, Chairman of the Board, and CEO, Ken Xie offers his perspective on important industry trends, business momentum, and how Fortinet is helping customers achieve their sustainability goals.
Ken: Revenue for the quarter grew 33%, significantly outpacing the industry growth rate. Product revenue growth was very strong at 39%, extending our position as a product revenue leader in the cybersecurity industry. Our product revenue performance reflects the strong demand we've built over the past 18 months across our security solutions along with the successful execution of our teams in managing the supply chain. In the quarter, SD-WAN and OT bookings grew over 45% and 75%, respectively, and together accounted for over 25% of total bookings. We believe we can achieve #1 market share in SD-WAN in the next couple of years.
It's no secret that cybercriminals will continue to rely on tried-and-true attack tactics, particularly those that are easy to execute and help them achieve a quick payday.
In fact, given the success of Ransomware-as-a-Service (RaaS), Cybercrime-as-a-Service (CaaS) will evolve in the immediate future in a big way. CaaS will be a very attractive business model for threat actors and a growing number of additional attack vectors will be made available as a service through the dark web. Crypto and digital wallets will be high on that list.
After FortiGuard Labs reported on RapperBot in our previous article titled So RapperBot, What Ya Bruting For?
in August 2022, there was a significant drop in the number of samples collected in the wild. But in early October 2022, new samples with the same distinctive C2 protocol used by RapperBot were detected.
Unlike the murky objectives of the previous campaign, it is quickly evident that these samples are part of a separate campaign to launch Distributed Denial of Service (DDoS) attacks against game servers, which we believe to be a re-emergence of a similar campaign from earlier this year.
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