In 2020, the world has experienced many challenges. Among them, hastened digitalization has brought new opportunities but also new risks. According to the World Economic Forum Global Risks Report 2020, cyberattacks rank first among global human-caused risks and RiskIQ predicts that by 2021 cybercrime will cost the world $11.4 million each minute.
Growing dependence on technologies makes it vital for businesses to tackle these threats and increase their cyber maturity.
Trends in cybercrime
First, we need to analyse how the threat landscape has changed. There are certain trends that have recently become dominant in the cyber sphere:
According to Code42’s Data Exposure Report, 69% of companies admit they have encountered data leaks through malpractice of their own employees or subcontractors. Often, leaks occur because an employee has a poor understanding of the cyber hygiene basics rather than underlying evil intent.
Our research suggests that since January 2020, the number of targeted ransomware attacks has at least doubled. These complex attacks are the main threat for critical infrastructure companies. Criminals interrupt IT and business processes of victim organizations, hack into remote work services, encrypt business-critical systems and demand ransom for restoring operations or even blackmail their victims. The ransom figure is also growing and might reach $1 million.