Readers who are technically proficient and enthusiastic about Information Technology due to professional bindings or personal interests must be aware of the growing cyber security challenges. Across the globe, the quantum of the challenge is rising since the dependence on Cloud and Networks has increased manifolds in the past three years. The Covid 19 Pandemic has also been a significant reason for the increased complexities within the Cybersecurity matrix. Research and market intelligence indicates that IoT Cyber Attacks are expected to double by 2025. That sounds alarming from all aspects. The World Economic Forum's 2020 Global Risk Report has been stating that the rate of threat detection in the United States is low at .01 percent. It implies that most of the threats go unreported and unattended, putting IT systems at high risk and vulnerability. In recent times, statisticians have noted that the typical burden of one ransomware attack is roughly $1.85 million.
Cyber attacks take place on all sizes of businesses. However, it is to be noted that more than 41% of the episodes take place in Small and Medium Scale enterprises. Only a handful of such enterprises have the capacity and competence to safeguard themselves from such threats. Hence, it can be assumed that medium and small-level industries need to enhance their cyber protection capabilities to stay competitive.
Some Data from Ponemon Institutes State of Cybersecurity Report (A Survey to Collect Data)
The readers must take note that the average cost of Cyber Attacks will increase every year. It is expected to take staggering figures within the next five years. Understanding the *Longtail cost of Cyber Attacks on a given enterprise over a span of 3 years.
*This includes the cost of lost data, business disruptions, revenue loss, and system downtime
The impact and severity of Cyber Attacks must be understood and analyzed thoroughly by enterprise managers and decision-makers. They must understand the seriousness of cyber attacks and the financial burden which might be incurred on a given enterprise due to such an attack.
In 2016, a business faced a ransomware attack every 40 seconds. With the increase in the volume of ransomware attacks, the 2021 figure stands at a staggering 11 seconds. This means that every 11 seconds, a business faces a ransomware attack threat. One can naturally understand that threat perception has increased manifolds over the last few years. Hence, it is mandatory for every business to secure its perimeters using cyber solid security measures.
The expert Cybersecurity Consultants are able to deliver the perfect security solutions as per the changing security matrix of 2022. A Cyber security expert can offer the following advantages to an enterprise
ITPN offers advisory, consulting, and a wide range of services, products, and certified IT security professionals, with pioneering expertise and rare experience to help our clients safeguard their critical assets (Infrastructure, Data, Identity & Access Management, Applications, and other Assets) by identifying, protecting, managing and adequately responding to security threats and incidents.