‘Cybercrime is the greatest threat to every company in the world’ says IBM’s CEO, Ginni Rometty. If you’re already working on boosting your security – or haven’t started yet – now’s the time. Here’s five reasons why…
1. Cybercrime cost to hit £2.41 trillion a year - Juniper Research
Cybercrime is expensive. Get hit and you’ll feel it in your profits. For example, a successful DDoS attack will force your systems offline and can cost you upwards of £100,000 every hour. 2016 reported a 22% increase in cybercrime and it certainly didn’t go unnoticed in the media. Big names like Yahoo, TalkTalk, Tesco, Netflix, Sony and even the presidential election were victim to cyber-attacks.
Get EC-Council’s Certified Ethical Hacker certification to help defend against attacks.
2. Cyber security spending to exceed £815 billion by 2021 - CSO Online
Businesses continue to realise the need to spend more on cyber security products, like software and training. In 2016, over £6.5bn was spent worldwide on information security (Gartner).
Despite this growing demand for training, a 2016 government report highlights that there’s still much to be done for businesses. With just under a fifth of businesses ensuring their staff take part in cyber security training in 2016, staff and the general public are still too unaware of their responsibilities in this regard.
3. Unfilled cyber security jobs to reach 1.5 million by 2020 - (ISC)²
There’s a severe shortage of qualified cyber security professionals. What’s more, the average salary for a CISSP certified professional is now £62,500.
The effect of this shortage means businesses are struggling to implement the security measures needed. A recent study by Cybersecurity Ventures of over 1,000 IT Professionals globally found that IT security managers reported significant obstacles in implementing desired security projects due to lack of expertise (34.5%) and inadequate staffing (26.4%).
4. Four billion people online by 2020 (Microsoft)
Double the current number of people will be online by 2020. As 91% of attacks begin with email phishing (Mimecast), the potential exploitation for hackers here is massive. Avoid social engineering attacks by educating your employees on information security.
More worrying statistics concerning the growing number of employees online and with access to sensitive data, came from AXELOS. They found that 75% of large organisations and nearly a third of small organisations suffered staff-related security breaches in 2015 and 50% of the worst breaches of the same year were caused by human error.
A simple and cost-effective way to test your employees cyber security knowledge is through EC-Council’s Certified Secure Computer User (CSCU) test. This will help benchmark the cyber security awareness and competence of your workforce.
5. 200 billion IoT devices will need securing by 2020 (Intel)
More internet connected devices – from thermostats to fridges - in the hands of the public means more opportunities for hackers to infiltrate home networks.
Take a look at the recent hack of the DNS provider Dyn, which brought down major organisations, as a result of an army of 100,000 IoT devices being hacked. Dyn Vice President Scott Hilton stated that the compromised devices had been hit with the notorious Mirai malware that scans for IoT devices that are still using their default passwords. It then enslaves those devices to a botnet army, which was used to force Dyn offline.
As technology develops and individuals and businesses increasingly adopt these novel technologies, the phrase, “with great power, comes great responsibility” has never rung truer.
Are you prepared for the next cyber-attack?