Cybercrime Today

In 2024, IBM’s research suggests that the average cost of a data breach globally is $4.5 million. In addition to major monetary losses, cybercrime threatens the integrity of a company. Consumers must have confidence that their personal information is safeguarded. Just as much as we are constantly inventing new technology, so are cybercriminals. As they get more and more creative, finding new ways of stealing, hacking, and destroying data, companies are looking to the experts for help. 

The Future of Cybercrime 

Along with the incredible advancements in technology we have made, new doors have opened with fresh opportunities for both good and bad. Criminals are accessing new lanes and developing new alliances, keeping companies of every size on their toes. Here’s what you need to know.

It’s No Longer a One-Man Job 

A common misconception about cybercrime is that there is someone locked away in a dark room, typing furiously, hacking into your valuable data, but that is just not the case. In the modern world, cybercrime is becoming a group effort. There are now teams of cyber criminals who have banded together, attacking from all angles to exploit vulnerable firewalls. These collaborated attacks are premeditated, working on the strengths of every individual in the group. This shift in cybercrime now poses a much larger threat to companies, as the results of these attacks are far more damaging and costly.

A Matter of Connectivity 

These days, everyone is connected to the Internet in one way or another. In addition to company computers, many employees also have personal devices. If they are logged into their work email, applications, or any portal, that opens more uncontrollable avenues that companies cannot always account for. Ensuring that your applications, websites, and the cloud are secured properly and with the latest security precautions will protect companies from the inevitable. 

Driven by Profit

In addition to a group mentality, there are also more “business” transactional relationships blooming between state-sponsored actors and cybercriminals. With services going to the highest bidder, cybercriminals are motivated more than ever, and so are nations and state organizations. State-sponsored organizations are seeking out the help of cybercriminals to carry out massive cyber attacks and are supplying incredible resources to do so. As this business relationship continues to grow, many companies in all industries are concerned with how an attack may, directly and indirectly, affect them. 

Low-Risk High Reward 

Investing in firewalls and securing your network can save a company money, customers, and morale. Security in every sense is the key to success. Bolster your defenses, forge ahead in confidence, and know that your company is backed by the strongest defense against cybercrime today. 

Learn more about preventing and fighting cybercrime today. 

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