Submitted by CyberHub Summit on Wed, 03/27/2019 - 10:39
The Update on Cybercrime
The Update on Cybercrime

Cybercrime is speeding up. In fact, hacking is the fastest growing American crime. As tech use and innovation surges, so do the hackers, identity thieves, cyber spies and cyber bandits, increasing the scale and cost to society at large.   

Ninety five percent of all breached targets come from government, retail and technology. This has little to do with cyber security standards within the industry and more to do with them being popular targets because of the information and data readily available. 

The amount of cybercrime that hits the headlines is a drop in the ocean of cyber crimes being committed daily. That’s right, every single day staying ahead of those guys, is turning into a numbers game. 

Although its important to remember the small to medium size firms, the biggest numbers are the ones that should have the impact on our psyches.

Do you remember?

  1. The Yahoo hack – 3 billion Yahoo users are hacked in the biggest data theft in history.  
  2. Equifax - 147.9 million clients had their personal data stolen in the Equifax breach of 2017.
  3. Under Armor – In 2018 the Under-Armor application, “My Fitness Pal” suffered a cyber penetration, affecting 150 million users.
  4. Facebook – It’s 2017, the Cambridge Analytica scandal happens and 87 million users on Facebook had their personal details exposed and used by third-party applications.
  5. Ticketfly – In 2018 Ticketfly, a distribution of tickets in San Francisco announces a data breach that affected over 26 million accounts. The stolen information included customer names, addresses, email addresses, and telephone numbers.

The Market

With a growing need for updated security tools and procedures, not only is the IoT development field blowing up, but the job market is ballooning.  This isn’t just spin to sell cybersecurity software, hackers may work behind closed doors but the results are out there.

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There are the simple facts, whether or not we like it, we can’t ignore the data around the breaches.

  1. Each day 160,000 Social media accounts are compromised.
  2. 41% of businesses have more than one thousand sensitive files open at any one time, that’s access to the office and anyone breaking into the system. 
  3. In 2018 there is a hacker attack every 39 seconds 
  4. According to Microsoft, 20% of small to mid-sized organizations have been targeted by cyber criminals.  
  5. Over half of all cyber intrusions cause $500,000 or more in damages.
  6. About 87 million Facebook users were affected by Cambridge Analytica.
  7. Over ninety percent of cyber security experts are deeply worried that hackers are turning to automated attacks to increase their level of cyber-attacks
  8. An alarmingly high number of people can now be hacked via cardioverter defibrillators (ICD), pacemakers and insulin pumps. 
  9. There are tens of thousands of mobile apps blocked daily
  10. The price of data breaches in 2020 will average over $150 million

This is a stark reminder from us to you: Keep alert, keep informed and keep reading!

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