Americans love Apple. According to a 2015 study conducted by Consumer Intelligence Research Partners (CIRP), 94 million iPhones were in circulation in the United States. If you're an iPhone user, you probably use it to send business emails, video chat and to play a game or two of Candy Crush.
As a small business owner, your iPhone is a tool to keep in touch with your staff and clients 24/7. You can schedule meetings, respond to queries in real-time and listen to podcasts driving between offices. If you store work-related business on iCloud, here's a warning: back it up on an external hard drive. After you back up your files, get yourself a cyber insurance policy. Why do this when iCloud promises the be safe storage feature? Because cybercriminals are working overtime to take it down.
The Turkish Crime Family: How Real is the Threat?
According to recent reports, a cybercrime collective going by the name "Turkish Crime Family" has promised to use alleged leaked iCloud login credentials to steal personal data and reset the phones to their original factory settings-destroying all data stored on the cloud.
If Apple does not pay the hacking collective $75k in crypto-currency, the collective will wipe the iCloud data of millions. When Motherboard broke the news about the hacking collective's activities, an Apple spokesperson denied the claims, saying that "there have not been any breaches in any of Apple's systems including iCloud and Apple ID. The alleged list of email addresses and passwords appears to have been obtained from previously compromised third-party services. We're actively monitoring to prevent unauthorized access to user accounts and are working with law enforcement to identify the criminals involved. To protect against these types of attacks, we always recommend that users always use strong passwords, not use those same passwords across sites and turn on two-factor authentication."
Motherboard first learned of the Turkish Crime Family's efforts when a member of the collective reached out to them, saying that Apple users would be interested to know that their devices are going to be wiped clean on April 7,2017, unless Apple otherwise pays up.
Upon closer inspection, it has been learned that the Turkish Crime Family's use of a credential stuffing attack did snag user login/password pairs, however, the credentials that were snagged are from a previous leak. What this means for Apple users The Verge notes is that the Turkish Crime Family most likely does not have the power to break into and wipe clean Apple devices. Because they swept up previously leaked login credentials, the same compromised credentials have probably already been reset or destroyed.
The truth of the matter is however, is that this won't be known until April 7th. Ask yourself: is the threat of a cyberattack worth the stress?
You have a business to run, and as such, you have other things to worry about. Let CyberPolicy ease your stress and find you a cyber insurance policy that will keep your fears at bay. Sign up for your policy now.