Home to approximately two billion websites, the World Wide Web is progressively creating a connected global village as envisioned by media theorist Marshall McLuhan in 1964. The advent of the Internet of Things (IoT) spawned dynamic and exciting developments in information and communications technology. Recently, a much broader range of devices are connected to the network including vehicles, household appliances, medical devices, electric meters and controls, street lights, traffic controls, smart TVs and digital assistants such as Amazon Alexa and Google Home. These advances also put an entire connected community at risk of cybercrime.
Although becoming increasingly ubiquitous, advancing the world’s technological progress and providing invaluable information to billions, the Internet is concurrently increasingly vulnerable to security threats. In the move from mostly a physical to a digital space of information sharing and dissemination, cyber threats and cyber crimes amounted to trillions of dollars in losses in 2019. Security threats typically involve software attacks, theft of intellectual property, identity theft, theft of information, sabotage, and information extortion. Against this background, companies are investing more in cyber security and training employees in online scams and ransomware attacks. Here are 7 cyber security facts you will find interesting.
Half of all cyber-attacks target small businesses
Cybint estimates that 60% of companies have been the targets of Denial-of-Service (DoS) and Distributed Denial of Service (DDoS) attacks, phishing, and social engineering attacks. Although small businesses make up to 13% of the entire cyber security market, they invest less than $500 in cyber security (Juniper Research). By their very nature, small businesses do not always have the capital compared to global conglomerates to invest in sufficient cyber security. Also, small business owners often do not pay attention to cyber security, thinking they are not worth being attacked, making them the perfect target. Hackers access data and steal consumer information, including personal details, credit card numbers, and ID numbers, also referred to as phishing.