Most of us live on a virtual platform now. From computers to smartphones, everything electronic and operated by the internet runs our lives. Checking an email, making a lunch reservation, sending money to a family member – everything is done online. That’s why Data Security is of utmost importance now. Otherwise, we could lose confidential information, passwords, and much more!
By adopting various means of Data Security, you can prevent unauthorized access to your devices or data. But it isn’t easy. In fact, Data Security, all by itself, is complex and interesting, and there’s a lot that you possibly do not know about it. Let’s check out some facts about Data Security.
- Rise in the Number of Cyber Attacks
All our internet activity can lead to cyber-attacks of various kinds. Many cybercrimes take place around the world regularly, from identity theft to money laundering. In 2018, hackers managed to steal over half a million of personal data. Scary, right?
Sadly, most laypeople make mistakes that allow hackers the opportunity to do this. They guess your password or send links through emails for phishing scams. This number is on the rise, with three US citizens getting affected by hackers every 39 seconds, every year!
- Cyber Attacks on Small Business
Did you know that nearly 43% of the cyber attacks are on small business houses? There is a simple logic behind this. Large organizations can afford to employ high-end cybersecurity for data protection. But small organizations cannot afford to do the same.
It’s also true that small business owners often end up believing that their organization won’t interest attackers. This negligent attitude is a big problem. Plus, some employees don’t know the basics of cybersecurity and end up getting manipulated by hackers.
- Target Industries
When it comes to big targets, hackers have their eyes set on three industries. Can you guess? The government is their most favorite, followed by retail and technology. All of these deal with sensitive data – something that seems attractive to hackers.
Meanwhile, another industry that’s vulnerable now is the healthcare industry. It has not been paying much attention to cyber security> As a result, malware has infected about 75% of the industry. This puts medical facilities and insurance agencies at risk.
- Price of Cyber Security
Cybersecurity has gradually become a vast industry. It was valued at $161 B in 2019. It has been predicted that by 2025, the value of this industry will reach a whopping $363 B! To be honest, it won’t be a surprise if this number ends up even bigger.
The number of cyber-attacks and data breaches has taken the shape of a virtual pandemic. It is anticipated that these will also increase soon, thus making the need for the implementation of top-tier data security even more substantial.
- Climbing Cost of Cyber Crime
Just like cybersecurity costs, the cost of cybercrime has also climbed to a new height. In 2018, cybercrimes caused damages worth a massive $1 T! What’s more, the total amount spent lost to cybercrime is expected to reach $6 T by 2021!
The main contributors to these numbers will be the big companies, for obvious reasons. However, small businesses and even individuals will not be spared, as the petty criminals will prefer to target those with weak cybersecurity. Quite unnerving, to say the least.
- Negligence by Employees
Would you be too surprised if we told you that most of the attacks on companies happen through employees? It’s not that they do it deliberately; sadly, they are not well-versed with recognizing the attempts of attacks, like emails with malware and viruses.
It is this unconscious negligence by employees that can cost a company a lot. One expert in cybersecurity is not enough to protect the entire company from all kinds of hacks. Educating employees against tricks like fake Wifi aids data security to some extent.
- Security Breaches through Mobile Phones and Tablets
A computer is not the only way to access data. Mobile phones and tablets are a smooth channel, too! Newbies do not succeed in installing a superior-quality security system on the phone or tab and end up being attacked through these mobile devices.
Now imagine what happens when employees of the company access sensitive data of a company via phone or tab when he is outside the office! Unless the device is equipped to exchange encrypted data. With work-from-home being the current norm, things can get worse.
- Long Detection Time
A disturbing fact is that the detection of data breaches can take a long time. In fact, even a high-tech company, like Facebook, may need up to six months to recognize the issue! That’s plenty of time for the hackers to steal valuable information.
Realizing that there’s a data breach is one thing, and tracking the attacker is another. It can also hurt the company’s reputation. When it was found that Facebook shared user details with Cambridge Analytica, its stock value had a fall of 7%, costing the company $43 B.
- Undercounting Cyber Crimes
The cyber community of the United States hugely undercounts the incidence of cybercrimes. It reports only 10% of the crimes committed. That’s because the nature of these crimes is mostly unproven, and it’s much easier for hackers to get away with the crimes.
When ransomware is involved, the victim stands the chance of defamation or having their personal lives brought to the public. So, it’s not always possible for a victim to involve the authorities. Another problem with declaring such data breaches is the panic among common people.
- Cyber Security Expert Shortage
As the threats of cyberattacks continue to rise, expertise in data security has become the need of the hour. Unfortunately, the number of white hacking experts is not sufficient. It’s a Catch-22 situation, as having fewer experts in cybersecurity is contributing to more crime.
The number of unoccupied cybersecurity jobs is on the rise. It is predicted that by the end of 2020, there will be 1.5 M unfilled positions in this field. It doesn’t end there. This number might become more than double and reach a massive 3.5 M by 2021.
But preventing cybercrime is much easier now.
Most companies are now taking the initiative to guide and train their employees to follow safety measures to protect essential data against cybercrime attacks. Even the smallest steps are crucial, like not opening an email from a stranger, not clicking on a suspicious link messaged by a friend, whose account might have been compromised, not connecting to unknown Wifi, etc.
Even tracking criminals might be possible with the help of Nuwber. With this platform, you can quickly identify an individual’s using basic information like email id, name, address, or any other data. So, if you are suspicious about the sender of an email, a quick check might go a long way to prevent a potential attack.