Given the threat from cyber-crime is increasing, businesses can’t afford to be reactive anymore. To succeed in security, they must look towards improving their cyber security systems, as there is too much at stake. It is not enough to just fork out millions on insurance and security, we need to find a way to prevent an attack from happening in the first place.

Bure Valley Group have been working with several exciting possibilities and ONE is really starting to stand out! More to come on this in due course…

Potential threats are no longer a concern for the IT department alone. “Cyber-crime is now more profitable than the drug trade”

Here are a few interesting statistics,

• An eye-watering 3.5 million new, cyber security jobs are being created by cyber-criminals worldwide, by 2021. Compare that with one million openings in 2016. That’s an increase of 350 percent in just five years.
• Just looking at 2017, business have forked out a staggering $86.4 billion in protection efforts alone.
• Cybercrime will create over $1.5 trillion in profits in 2018
• Global cybercrime damages predicted to cost $6 trillion annually by 2021
• The average business increased its spend on IT security this year by 14%

Today, with the sharp increase in in use of digital technologies in the workplace, driven by the need for businesses to become more agile and adaptable, there has been a surge in ways for cyber-criminals to gain access to enterprise networks. As a result, the entire cyber battlefield has evolved and become far more complex.

You can expect to see some serious revenue dedication with this increase. Everywhere, businesses are investing a remarkable amount of money into hiring security professionals, maintaining customer privacy and avoiding ransomware attacks.

What we are seeing now is large corporations having to find funds to protect themselves from these attacks.

Small businesses face a range of cyber threats daily and are often more vulnerable than the larger organisation, In fact, small businesses are at an equal, if not greater risk of being victims of cyber-crime – two thirds of small UK firms were attacked by hackers between 2014-2016, according to a report from the Federation of Small Businesses.

What new threat do you need to be aware of, and how is that going to change — or how is it already changing — the cyber-security environment?

Click to download this 2018 Data breach report compiled by Verizon.