Who should be concerned about Cyber Attacks?
Only large companies fall victim to cyber attacks? A common misconception. We put together a list of the most juicy targets for cyber criminals:
No one is safe from cyber attacks. As we have learned, a botnet grows stronger the more infected assets lend their computational strength to it, putting a target on the machines of careless civilians. The tricky thing: Usually the malware is very small in size and buries itself deep down in the system’s source code, never to be noticed by the owner.
Depending on the source, 40-70% of all cyber attacks target small and medium-sized businesses (SMB), which often – because of their relatively small size – do not see themselves as a potential target. From an attackers point of view though, SMBs are easy targets rich with sensible client data. About 50% of all SMBs become targets of cyber attacks at some point, with 60% of successful attacks leading to the downfall of the victim.
It goes without saying that no one is too big to become a target: Government, military and critical infrastructure regularly get attacked for political and ideological reasons, while finance firms promise profits to cyber criminals. Health organizations are interesting because of the hoards of sensible data they hold and large corporations combine it all: Money, data, and due to their social prominence, special allure for hacktivists.
Why is defense Cyber Security important?
The importance of defense cyber security can not be understated, as every user could be a potential target. Cyber security comprises measures of IT-security, information security and data security in the entire cyber-space. It protects government- and industry data, personal data, health data and intellectual property.
Since the start of the digitization, a large range of processes has become reliant on data processing and can therefore be incapacitated by hackers. Additionally, the increasing interconnectedness of our systems increases the potency of “infectious” viruses. And on top of it all many service providers are transitioning to cloud computing – and negligently implemented cloud-solutions increase the risk substantially. Yearly global damages due to cyber attacks are in the quadrillions.
What damages are caused by Cyber Attacks?
The fallout of cyber attacks can be devastating. Not only for the individual, but for entire societies. Attacks on critical infrastructure can cause outages in the supply of water and power, breakdowns of supply chains and financial transactions and – in case of attacks on e.g. hospitals – even deaths.
In 2021, cyber crime has caused damages north of 6% of the global GDP and rising – currently at a staggering growth rate of 15% per year. Personal data is misused for identity theft and to open bank accounts, botnets impair the computing power of personal machines and potentially implicate unwitting users in criminal attacks.
What does the future of Cyber Security look like?
New threats, new cyber security measures – this interplay has already accelerated enormously in recent years. Where do we go from here? What does the future hold for cyber security?
With daily new threats on the horizon, speedy data analysis is essential – to an extent that can no longer be covered by humans alone. The inevitable solution: Automation – enabling faster and more efficient sequencing of vast amounts of threat data and snappy, more precise reactions to attacks. In fact, assuming that automation will be the norm is not a daring prognosis at all.
Bigger focus on cloud computing
Cloud computing is the future – with more and more enterprises adapting their IT-structure to run off the cloud. Despite all of its advantages, cloud solutions also introduce new attack vectors in the cyber security landscape, opening new doors to hackers. But the means of cyber security providers are also expanding to cover these new attack surfaces as swiftly as possible.
Better cyber security for remote work
It is becoming clear that the corona pandemic has mage a lasting impact on the way we work. While in 2020 most businesses still stood in opposition to home office and remote work both models have established themselves as the norm these days – with some sectors relying entirely on these solutions. Convenient for employers and employees, reducing the need for dedicated workplaces and dropping commute substantially, but less advantageous in terms of cyber security. While cyber security incidents can be detected and dealt with swiftly on prem, handling incidents in home offices or even abroad proves slower and more difficult. Cyber security providers are likely to devise dedicated strategies for this in the future.