Before going on full throttle into the topic, let us first discuss cyber security for a few paragraphs. Can you kindly give us permission? You are living at present, in a digital age, where every activity or task is done online. So you can order food to your home, call a handyman professional via home to repair the electronic appliance, receive or transfer payments via the mobile phone or laptop/computer and many more. The list could go on and on. But hold on! Are there no disadvantages in online working? There are, and that is the reason why cybersecurity assumes prime importance. In this article, let us discuss the top cybersecurity facts of 2020.

Cyber Attacks

In recent times, cyber attacks are on the rise in various forms. So, you have phishing, ransomware or you could have the website defaced. To be honest, every cybersecurity expert is having his/her hands full. And the hackers or trouble mongers – they rarely target individual computers and small businesses. Usually, it is only the major corporate companies such as Equifax who bear the brunt of attacks. In this article on top cybersecurity facts of 2020, you will get information about every detail such as unpatched software, vulnerabilities in cybersecurity and other areas.

Also Read: 10 Most Dangerous Ransomware Attacks In The Last 10 Years

Top CyberSecurity Facts of 2020 – CyberCrime Industry

1. The profits in this industry are expected to cross 1.5 trillion dollars this year. The value of the market is expected to reach 300 billion dollars in 2024. Large corporate giants are investing nearly 15 billion dollars in cybersecurity start-ups. And the expense on cybersecurity systems and procedures is expected to grow at a rate of nine percent this year.

2. If you have a small business enterprise and a team of about 10 for your office, chances are that you will spend at least rupees 15,000 every year on cybersecurity.

3. Cybersecurity is an industry that has seen very few women specialists. But this fact is going to change. In 2019, with more women opting for cybersecurity jobs, they can make up to 20 percent of the elite security professionals. In fact, there are many women who are holding the prestigious post of Chief Information Security Officer in many corporations.

4. Yes, a breach could happen even in large corporations. But can it be detected as soon as possible? It is at this situation, that the skills of the cybersecurity professionals are required. As per an intelligence survey, the number of days required to find out/report when taken on average was 50 days in the last year.

5. Bitcoins is passe’ but cryptocurrency will still remain. In fact, this currency is used for illegal activities. And as per cybersecurity experts, the rate of transactions in cryptocurrency for illegal activities could rise to seventy percent.
6. The number of security breaches for all types of companies and individual accounts has gone up by eleven percent compared to 2017.

Top CyberSecurity Facts of 2020 – Phishing/Hacking

1. As per a technical report, it is ransomware fear all around the internet world. No one can exactly predict the ransomware attack. It could happen to an individual laptop/computer or it can happen to a large organization. After WannaCry and Petya, the number of companies who have opted for reputed antivirus/antispyware for their systems has increased in number. Even if you are an individual with your own laptop, it is necessary to have an anti-virus/anti-spyware installed in the system. The reasons, the hackers are following future technologies to gain unauthorized entry to your account and gain confidential details. In fact, ransomware is the fast-growing cybercrime type since the last few years.

2. It is an offense to indulge in cybercrime activity. But the real fact is that cybercrime tools and kits can be purchased for a cheap price. And it is not that when your confidential information gets stolen, you will lose money. Usually, cybercriminals try to acquire information in the form of names, personal info, addresses, trade secrets and more. Then the data can either be used to siphon off money to other accounts or traded for money. Please note, in order to acquire info, the hackers try every dubious method such as email marketing, phishing, and other methods. In the future, stealing files from an individual or organization will become a huge job industry.

3. In the old movies, you will see the villain looting a bank by showing weapons such as the pistol or gun. But now, they use the phishing method. And there is no risk either way for the fake identity person. It is you who will make money transfer from your account. And then the email and the money will vanish in thin air. In fact, nearly thirty percent of the Indian public has been duped by online fraud schemes. In fact, very few cases get reported to the law agencies.

4. It is not that spreading of virus or ransomware has stopped. In fact, as per industry records, nearly 30 percent of the internet population was about to become targets of ransomware and phishing in the last year. However, they escaped because of stringent online security measures. Ransomware was limited only to computers, tablets, and laptops. But now, it has stepped even to mobiles. In fact, the number of cybersecurity attacks has increased by 33 percent.

5. In recent times, another type of threat is becoming popular. ATM malware threat. This malware can make ATM spit out cash in large number.

6. In India, breach of confidential info regarding citizens have happened, but very few. The same situation happened to emails, passwords along with unauthorized access to social media platforms. With Smart Homes and the Internet of Things becoming a reality, it is vital that every homeowner should know the procedures to be followed in case of a cybersecurity attack. Do you feel that we are going a little bit too far? Just look at the statistics. By the end of the next year 2020, the number of homeowners who have Internet of Things applications in their home will have crossed 20 billion all over the globe.

7. There has been an increase in the number of malicious Powershell Scripts. In all the number has increased tenfold as the statistics report.

8. Have you heard about man-in-the-middle attack? Instead of just gaining information, the hacker can also amount to the addition of content or modification.

9. There are many cybersecurity attacks amounting to Saas Mimicking tasks. And will you believe, there is more than 70 percent of the websites which are vulnerable to cyber attacks. The website owners are not interested in the security of their websites. In fact, their online presence is sitting ducks for hackers.

10. Let us imagine, you are an entrepreneur having many companies in Pune. One among them is offering repair services for computers/laptops. Your professionals work in the computer shop in Pune and they also provide doorstep repair services. To ensure that your repair professionals have their hands full of jobs, you have teamed up with a new start-up which provides doorstep services for computer repair in Pune and Mumbai. This company also provides services for all types of electronic appliance in both cities (for example, Air conditioner repair in Pune). Now, your team in Pune has a small office with a team of fifteen people. But being a computer engineer, you have taken extreme steps to prevent data theft and have implemented the best practices in cybersecurity. By implementing these methods, you have given the best security to the company. Yes, there have also been briefings about cybersecurity threats such as ransomware, phishing, and other details. Armed with this information, it is very rare that your team in the office regardless of any department may suffer from a cybersecurity attack.

11. Worst Cases – It is surprising to know that not many companies have a disaster recovery plan in times of security threats. In fact, there are many SMBs, which do not have proper antivirus software in their office systems.

Conclusion

So, are companies just not working on their security requirements? You are mistaken. In fact, many companies have transferred their data to the cloud, where it is stored in an encrypted format. And yes, some have already implemented strict security measures. The same applies to individuals who have their own computers/laptops at home. With the previous sentence, we end this article of top cybersecurity facts of 2020.

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