cybersecurity

CYBERSECURITY

Cybersecurity is the best investment companies and institutions can make in 2023.

Just take a look at what happened in the last few years:

  • Global cost of cybercrime: According to a report by Cybersecurity Ventures, the global cost of cybercrime was projected to reach $6 Trillion annually by 2021. It reached $8.4 Trillion in 2022.  
  • Losses for businesses: The same report estimates that small businesses will suffer losses of up to $200,000 per cyber-attack, while large enterprises will suffer losses of over $1 million per attack. 
  • Data breaches: Data breaches are a common type of cyber-attack, and their cost can be significant. According to the 2019 Cost of a Data Breach Report by IBM Security, the average cost of a data breach was $3.86 million and climbed 12.7% to reach 4.35 million in 2022. 
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  • Ransomware attacks: Ransomware attacks, in which attackers encrypt an organization’s data and demand a ransom payment to restore access, are also becoming increasingly common. According to a report by Coveware, the average ransom payment in the first quarter of 2020 was $111,605. Since then, it climbed significantly and then dropped by Q2 2022. Even with the drop the risk remains a real issue and requires our due diligence. 
  • Loss of intellectual property: In addition to financial losses, cybercrime can also result in the theft of valuable intellectual property and trade secrets, which can have a significant impact on a business’s competitiveness and growth. 

Unfortunately, all statistics and official reports point out that these numbers are destined to grow and evolve in approach and tactics, as the world becomes more digital. 

The good news is that you are not left alone facing these threats 

Sole Creation is here with you to help you protect yourself from cybercriminals, viruses, trojans, frauds and internal security issues.  

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