The impact of IT security

The impact of IT security

January 12, 2021 Off By admin

On the global financial balance, online crime weighs heavily.

Businesses are the first to suffer and be much in this problem. It only took a year for the financial impact, cyber-malveillance acts to reach a whopping US$1 trillion. This estimate is approximate as it continues to grow.

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In five years, according to computer security firm McAfee, the financial disadvantages of cybercrime have literally doubled. This statistic was supported by the Centre for Strategic and International Studies. Nearly 1% of global GDP has been directly affected by cyber crime. It is worth noting that in 2018, the costs were estimated at $600 billion, unlike in 2015 when it was observed to the tune of $445 billion. Just at a glance, you can clearly see how rapidly it is progressing. Today, hacker groups are becoming more organized. They are very well-crafted networks that easily can do much more damage. This new cybercrime organization is estimated to be worth $1 trillion a year.

It will be expected that the frequency of computer attacks will increase significantly. Which means, that losses will also increase. Looking at all that has been caused by the health crisis, we are talking here about the general containment of populations which has led to a rather abrupt and massive adoption of telework, the vectors of attacks have multiplied. Unfortunately, hackers have seen the possibility of being able to attack the computer system much more easily. And the consequences were clearly simply observable by all. This is what computer security specialists call an unbalanced balance of power.

Of the $1 trillion, nearly $145 billion has been spent on developing computer security systems.

"Criminal organizations are increasingly adapted to any developments in the digital world. In addition to being overwhelmed by a flood of repairs due to an ongoing vulnerability, IT security officials still have to deal with these criminal networks. On the other hand, this action is complex, as they are scattered all over the world. The American company explains. "In addition to the direct costs of cybercrime, companies also face a series of hidden costs. Indeed, the threat of attacks with ransomware is the most popular. With this method, hackers encrypt a company's data. They then demand payment in return to return the stolen data. However, this action is only one example of fraud by cyber criminals. Economic espionage and financial fraud can cost businesses even more. Apart from that, at least 18-hour shutdowns in the companies under attack also generate a huge economic loss. adds the latter.

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