top of page

Formjacking: The new hack of cybercriminals to pilfer millions from consumers

Formjacking attacks are simple – essentially virtual ATM skimming – where cybercriminals inject malicious code into retailers’ websites to steal shoppers’ payment card details.

Cyber experts cannot stress enough on how rapidly the threat landscape of cybersecurity keeps changing and how important it is for companies to invest in security to stay ahead of the curve. Hackers are getting sophisticated and every year they figure out a new way to syphon off millions from the government, businesses, and consumers.

Last year, it was crypto jacking, defined as the secret use of a computing device to mine cryptocurrency. However, it seems due to the falling value of cryptocurrencies, it is no longer a lucrative option for hackers as it used to be. In 2017, according to a report by cyber security giant Symantec, Cryptojacking attacks rose by a massive 8,500 per cent around the globe. But crypto jacking activity declined by 52 per cent throughout the course of 2018, reveals Symantec’s annual threat report.

The cybercriminals, however, have already found an alternative method. According to the report, Formjacking is the “new get rich quick scheme for cybercriminals”.

Read more at: