Cybercriminal activity is one of the biggest challenges that humanity will face in the next year. Cybersecurity experts predict that cybercrime will cost the world $6 trillion annually by 2021.
look at this another way the illegal drug trade reportedly makes
So the probable global figure for the total illicit drug industry would be approximately $375 billion.
A study of cyber threats by leading Security Firms found that the ransomware industry was worth €950 million in 2016.
So Ransomware attacks are profitable and productive, “this business is booming”. Now let me just clarify €950M is the amount of money spent by criminals buying ransomware software.
No one really knows how many people get caught, but it’s estimated that ransomware attacks have cost businesses an estimated $1 billion worldwide in 2016.
That’s a nice return on the criminals’ investment.
A top-notch group of Researchers monitored 21 of the largest dark web marketplaces trading ransomware in August and September 2017 (there is an estimated 6,300+ marketplace) and produced the following
So while Businesses ignore the articles warning them of security breaches that market will grow.
Predictions for Ransomware’s
The number of Ransomware attacks will increase
However, Ransomware will develop into a more targeted form of attack. Looking for certain file types and targeting specific companies such as Law Firms, Doctors, healthcare, also files like AutoCAD can you visualise having to re-draw them.
This not only would create such stress on companies to restore their data but also incorporate the loss of data which would be in breach of GDPR. The files could also be sold on the black market.
The risk is very real and we can’t allow ourselves to be lulled into an air of inevitability. We all have a role to play in how we protect our businesses from the accelerating threat of cybercrime.
When you think how fast we have developed.