Cyber Threats are the Real Deal

With the continuous evolution of modern technology, cyber threats are rapidly growing at an alarming rate and this will be one of the biggest challenges that society and businesses will face in coming decades. Cybersecurity Ventures predicts that cybercrime will cost the world US$6 trillion annually by 2021. The extent of damage includes destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, post-attack disruption to the normal course of business, forensic investigation, restoration and deletion of hacked data and systems, and reputational harm1.

Cyber threats affect diverse industries, in different forms and frequency, with increasing sophistication. Therefore, enterprises are increasingly shifting their security perspective in making sure that they consistently have complete visibility into their network, and upgrading their current legacy systems to combat threats. Different forms of technologies today are always under constant threat, and one of the main targets of cyber threats is the rise of IoT. This is an alarming trend as three of the top 20 attacks identified in the second quarter of 2018 targeted IoT devices. 2