Data Revealing the threat of cybercrime
The global cyber threat continues to evolve at a rapid pace, with a rising number of data breaches each year. A report by Risk Based Security revealed that a shocking 7.9 billion records have been exposed by data breaches in the first nine months of 2019 alone. This figure is more than double (112%) the number of records exposed in the same period in 2018.
Medical services, retailers and public entities experienced the most breaches, with malicious criminals responsible for most incidents. Some of these sectors are more appealing to cybercriminals because they collect financial and medical data, but all businesses that use networks can be targeted for customer data, corporate espionage, or customer attacks.
With the scale of the cyber threat set to continue to rise, the International Data Corporation predicts that worldwide spending on cyber-security solutions will reach a massive $133.7 billion by 2022. Governments across the globe have responded to the rising cyber threat with guidance to help organizations implement effective cyber-security practices.
In the U.S., the National Institute of Standards and Technology (NIST) has created a cyber security framework. To combat the proliferation of malicious code and aid in early detection, the framework recommends continuous, real-time monitoring of all electronic resources.
The importance of system monitoring is echoed in the “10 steps to cybersecurity”, guidance provided by the U.K. government’s National Cyber Security Centre. In Australia, The Australian Cybersecurity Centre(ACSC) regularly publishes guidance on how organizations can counter the latest cyber-security threats.
What is Cybersecurity?
Luckily, our systems are now immune against these attacks as a result of development of 'cybersecurity'. The term itself describes what its about, Cybersecurity is the practice of defending computers, servers, mobile devices, electronic systems, networks, and data from malicious attacks. It's also known as information technology security or electronic information security. The term applies in a variety of contexts, from business to mobile computing, A strong cybersecurity strategy has layers of protection to defend against cyber crime, including cyber attacks that attempt to access, change, or destroy data; extort money from users or the organization; or aim to disrupt normal business operations.