Experts predict that there will be 200 billion connected things by 2020. The last decade seemed like a race on who can put the most software into anything and it changed the way we live and do things. As it continues to penetrate every aspect of human life, we as humans also continue to depend on it. A nice thought, except that this dependence also results into a lot of digital vulnerabilities.
This puts cybersecurity above everything as of today. We are at an age where cyber warfare by nations are happening left and right. We have witnessed two devastating attacks within this year’s early half (WannaCry and Petya) and experts are saying we should expect more. This puts cybersecurity at the front of things that people should invest in.
Here are four major reasons according to Forbes:
1. Cybersecurity threats are everywhere
As technology develops over time, so does cybercrime. It’s important not only for tech people but for humanity to start considering cybersecurity options and fixing some bad habits. Cesar Cerrudo, Professional Hacker and CTO of IOActive Labs, revealed his frustrations in the current systems that many companies operate in.
Working as a hacker to surface and fix cybersecurity problems, he confessed that he is “worried about our future.” He said that he is frustrated seeing the same problems arise repeatedly.
Cars, alarm systems, plane systems, and even critical infrastructures like power grids and dams were all victims of hacking. Hacking is not just a petty crime anymore; it’s becoming a more serious national security issue that needs urgent addressing.
2. Cybersecurity threats are developing rapidly
Digital transformation is like a double-edged sword: it innovates a lot of industry technology but also allows more rooms for cybercrime. A report on IoT cybersecurity revealed that 70% of connected things did not encrypt communications. Another report revealed that cyberattacks have been growing rapidly during the last years.
Sadly, only a few are hearing this.
Cerrudo dissected the problem into three things. First, there’s the lack of care about cybersecurity. Some companies, especially start-ups and SMBs, give little to no attention about their cybersecurity posture. Second, attackers are getting creative. Recent attacks show patterns that mix old, new, and different technologies. This makes attacks more flexible and hard to deal with as they require a lot of adapting on the go. Finally, lack of resources. Cyberattacks are getting more sophisticated every second and they require more sophisticated countermeasures. This puts a strain on everyone’s resources. Thankfully, there are scalable solutions like Azure and Office 365 that are continuously adapting to modern-day attacks.
3. There are just too many attackers.
Who benefits from cybersecurity problems? It’s an age-old question. Cerullo calls them “threat actor” or people who benefit from cybercrime. Gone are the days when it’s just your average hacker on a basement pranking websites. Today, we have dedicated attackers that are causing waves of disruption across many industries… and not the good kind of disruption.
There are cyber criminals and hackers who steal information for money. There also people called “Hacktivists” who operate under political and/or social movements (i.e. Anonymous). Cyber terrorists, extremist hackers that just want to cause chaos are also getting more common. Finally, there are nation-states who launch large-scale cyberattacks against other countries, something that can be considered as an act of war.
The list goes on and these are just prime examples of different attackers. Today, no one is safe.
4. It has a large impact on economy
Petya alone devastated the entire country of Ukraine, halting every industrial process from banking to uranium extraction. According to McAfee, cybersecurity problems amount to billions of dollars in losses every year. Many companies like Chrysler and Sony had a lot of losses due to cyberattacks. If these big companies can be targets, what’s stopping them from targeting SMBs, start-ups, and a lot more?
As we are starting the next half of 2017, we can expect more news about cybersecurity making the airwaves. The only defense? Get a trusted partner. Microsoft prides itself with its cybersecurity through solutions like Office 365 – one of the best investments any company can invest into.
We are going to see more changes as technology penetrates our daily lives even more. Rest assured that Tech One Global is here to become your digital partner. Subscribe to us to get the latest news on cybersecurity.