![]() The global cost of cybercrime is estimated to reach $10.5 trillion annually by 2025 (). ACID continues round-the-clock monitoring for as long as the threat remains, to collect additional information as it becomes available and update the targeted organization, thus enabling it to fine-tune its response for optimal effectiveness. Once detected, it sends alerts in real-time to the intended targets to enable them to take appropriate advance action. It unleashes clusters of robots and implements advanced AI algorithms to detect the first hints of hostile activity. Looking ahead, some trends and threats that require an effective response are:ĪCID, a dark web monitoring and cyber intelligence company, provides real-time information about attacks targeting your organization, even as early as in their planning stage, to enable you to prepare an effective response, mitigate their consequences, and perhaps foil them entirely. Data provided by Ponemon Institute underscores the harsh reality: 66% of surveyed small businesses have experienced an attack in the preceding 12 months, 69% divulged that the attacks were becoming more targeted, and 45% admitted that their processes were ineffective at mitigating the attacks. ![]() economy, called them “target rich, cyber poor”.Ĥ3% of cyberattacks are directed against small businesses, yet only 14% are prepared to defend themselves (Accenture). infrastructure), referring to massive attacks on K-12 schools, hospitals and small businesses which she identifies as the engine of the U.S. In January 2023, Jen Easterly, Director of CISA (the Cybersecurity and Infrastructure Security Agency established to protect all critical U.S. The most frequent types of attack targeting small business are phishing/social engineering (57%), compromised/stolen devices (33%) and credential theft (30%). About 60% of organizations of this size that are hacked or sustain a data breach declare bankruptcy within several months. Small- to medium-sized companies suffer more than 50% of all cyberattacks (Cybersecurity Ventures, 2021), in part due to their inability to invest the resources required for effective protection that would lower their risks. Russia’s invasion of Ukraine in early 2022 was also a significant contributing factor to the threat environment, leading to an 8-fold increase in Russian-based phishing attacks against email addresses of European and US-based businesses (AAG). A global study indicated that 82% of surveyed CIOs believed that their organizations were vulnerable to cyberattacks targeting software supply chains (Beta News, first half of 2022). According to Anchore’s Software Supply Chain Security Survey, supply chain attacks impacted 62% of organizations in 2021. A Positive Technologies study covering organizations in the financial, energy, IT, government and industrial sectors revealed that in 93% of cases an external attacker is able to breach the targeted organization and gain access to internal data. In mid-2022, Check Point Research reported that it had detected 50% more attempts per week to attack corporate networks worldwide in 2021 than in 2020. Losses to cybercrime are continuing to increase dramatically: According to an FBI report dated March 2022, these losses amounted to US$ 4.2 billion in 2020, and were estimated at US$ 6.9 billion in 2021. The continued severity of the problem is evidenced by the rapid growth projection of the global cyber insurance market – from US$ 7.7 billion in 2020 to US$ 20.4 by 2025, at a CAGR of 21.2% (Mordor Intelligence, 2020). Cybercriminals and cyberterrorists are constantly looking for new methods of attack and vulnerable entry points into their victims’ systems.Ĭybercrimes cost the world nearly $600 billion each year, equivalent to 0.8% of the global GDP.
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