Cybercriminal activity is one of the biggest challenges that humanity will face in the next four years. Cybersecurity experts predict that cybercrime will cost the world $6 trillion annually by 2021.
Just to look at this another way the illegal drug trade makes $110 billion for heroin, $130 billion for cocaine, $75 billion for cannabis and $60 billion for synthetic drugs, the probable global figure for the total illicit drug industry would be approximately $375 billion.
Cyber Crime in 2015 it reportedly made $3 trillion.
The damage cost projections are based on historical cybercrime figures including recent year-on-year growth, a dramatic increase in nation-state-sponsored cyber warfare, organized crime gang hacking activities.
Cyber attacks are the fastest growing crimes and they are increasing in size, sophistication and therefore cost.
We are edging closer and closer to total reliance on the power at our fingertips everything we use and interact with is connected to the network which is connected to the cyber world.
Cybercrime costs are not just made up of stolen money but also the damage and destruction of data, lost productivity, theft of intellectual property, theft of personal and financial data, the simple disruption to the normal course of business, and in some cases the businesses reputation is harmed.
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.
The World Wide Web was invented in 1989. (28 years old)
The first-ever website went live in 1991.
Today there are more than 1.2 billion websites.
There were 2 billion Internet users in 2015.
There are 3.8 billion Internet users today, Predictions put it at 6 billion by 2022.
The world's projected population in 2022 is 7.9 billion.
A child born today will be over 4 years of age, and an internet user you can be sure of that.
At the moment there’s a push on securing medical devices such as pacemakers to protect them from hackers.
“Johnson & Johnson warned customers about a security bug in one of its insulin pumps only last year”.
As hackers increasingly take advantage of lax security. Defending medical embedded devices has taken on new urgency on two fronts. There’s a need to protect patients so that attackers can’t hack an insulin pump to administer a fatal dose. However vulnerable medical devices also connect to sensors and monitors, making them potential entry points to hospital networks.
So you have the facts. The projections they are not mad off the wall statements, Yet Business owners acknowledge but ignore.
Historically street crime grew in relation to population growth, we are witnessing a similar evolution of cybercrime.