In 2016 there were only 360 bank robberies (one per day), while online scams increased by 65%, affecting thousands of Italians
Bank robberies no longer take place with the normal tools of the trade, now scams run online. In the last ten years bank robberies have dropped by 90% from over 3000 to 360 (an average of one per day). In the same period, however, digital scams have exploded.
According to the 2017 Clusit report, online bank accounts have become one of the main targets of hackers, with a 64% increase in cyber attacks over the previous year. The reason is quite simple: while bank robberies are increasingly complicated and life-threatening for criminals, online scams are simple and not always recognizable. Not all people have the computer skills to be able to recognize a scam and click on links that lead to malicious sites or that initiate the download of viruses and malware.
Information security in danger
The main reason for the change in strategy of criminals is due in particular to the increased attention that credit institutions have placed on physical locations: banks are super controlled and robberies are a real risk. Hitting users’ online checking accounts could be much easier. Only in the last few months have banks started investing in employee training to prevent digital scams; previously, few knew how to recognize a phishing email and defend themselves against hacker attack. Acquiring cybersecurity skills and hiring experts in the field is a habit that still doesn’t catch on in Italy. As scams and robberies evolve and get smarter, banks have only been active in the last while and will have to catch up fast if they want to fend off hacker attacks.