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December 29, 2017

Cybercrime Will Get Worse in 2018

We are reaching a tipping point in the global cybercrime epidemic.

The Internet is growing at an unprecedented pace. Right now, there are about 3.8 billion Internet users across the world, which is 50 percent of the world’s population. By 2030 this figure will swell to about 7.5 billion.

According to Microsoft, online data volumes will increase by as much as 50 percent by 2020 compared to 2016.

Unfortunately, global cybercrime is spiraling out of control. And as a new report shows, it’s going to get a lot worse in 2018.

Just how big is the problem? Consider this:

According to the report, global cybercrime is now “more profitable than the global trade in marijuana, cocaine and heroin combined.”

Cybercrime, in other words, is the most economically damaging type of crime. Every organization, regardless of size or industry, is at risk from threats like ransomware, distributed denial of service attacks, phishing, viruses and malware. It’s getting increasingly easy for novice hackers to purchase and deploy sophisticated cyberweapons.

Just look at some of the major household names that reported data breaches in 2017. They include Gmail, Xbox 360, Arby’s, Yahoo, Chipotle, Brooks Brothers, Kmart, DocuSign, Washington State University, the University of Oklahoma, Equifax and many, many more. This is just the tip of the iceberg.

So as we prepare to turn the corner into 2018, stop and think about your business’s cybersecurity strategy. Do you have what it takes to get through 2018 unscathed?

Keep in mind that the average cost of an SMB data breach is now $117,000.

Here are some of the areas all organizations looking to promote a cybersecurity culture need to focus on.

1.    Cybersecurity training must be done regularly.

2.    Auditing and documentation must be performed regularly to ensure systems are secure.

3.    Anomaly detection should be running constantly to detect threats as they emerge.

4.    Penetration testing shows if systems can easily be reached from the outside. Here is a case where this test might have saved two company’s’ reputations from being destroyed.

5.    Network forensics for when a breach eventually occurs. The bad guys always seem to get in eventually.

6.    An action plan to follow when a breach does occur. Once it happens, few will have the clear heads needed to “wing it” correctly. Equifax botched it’s response in what is being called a PR catastrophe.

To ensure your organization is safe – even if you have internal IT, hire an experienced MSP or MSSP like Apex Technology Services.

Apex Technology Services
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