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The State Of Cyber Security In 2020

  • Did you know the cyber crime economy bags about at least $1.5 trillion in profit every year? It isn’t surprising given, over the past five years, security breaches have increased by 67 percent? Surprisingly, and unfortunately, to match that 67 percent, companies are expected to increase their cyber security spending by only 9 percent on average.

    As we move forward towards mass cloud adoption, IT infrastructures are more vulnerable than ever to cyber-attacks. So, investing a significant sum in cyber security is no more optional – it’s essential. And this is just as true for the small businesses as for the large organizations. If you’ve been reluctant all this while about network security monitoring and protection, you’ve left your entire business exposed and susceptible. It not only risks data breaches but virtually the existence of your business. Data protection, after all, doesn’t only concern your customers but failing at it also welcomes plenty of legal challenges.

    There have been countless examples of companies that went into oblivion, and dwindled eventually, after failing to protect their customer data. To that, given ransomware attacks occur every 14 seconds, this is only going to get more prevalent for companies that remain disinclined towards network security.

    Hire or outsource cyber-security professionals to shield your IT infrastructure. The cyber-security experts and companies, in parallel to advanced practices of attackers, have up their ante too. They are now leveraging better techniques, set-ups, and tools to detect attacks, thwart them off and, in case breach happens, make a quick recovery. Having such professionals or company by your side can help keep your customers’ data, as well as your own, well-protected. They can run tests, throttle and identify threats regularly, protecting your system 24/7.

    Remember, in 2020, on average, cyber crime will cost organizations $13 million each. Don’t be one of them.

    (Source of stats)

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