Cybercrime – rage against the machine?
04 March 2020
Cybercrime – way more developed than we may feel
As the internet has become ubiquitous, so businesses big and small have to be online – this has exposed them to cyberattacks, and related cost have skyrocketed. Lost in the mass, individuals may not feel the heat until they are directly hit by
a cyber attack.
- According to Juniper Research, cybercrime-related protection costs will exceed $2bn globally in 2019.
- Over 50% of businesses do not have the budget to recover from a cyberattack.
It’s all about the money
Cybercrime is a very profitable, albeit illegal, activity. As data has become modern days gold, getting (illegal) access to it allows cybercriminals to easily and quickly monetize their efforts.
- According to the 2018 Web of Profit Report (Bromium & Dr. Michael McGuire), $500bn was made from the theft of trade secrets, $160bn from stolen data trading, $1.6bn from crimeware-as-a-service, and $1bn from ransomware.
A chain is as strong as its weakest link – what about the human?
Corporates have been investing heavily to ensure their IT systems are safe, and
a sprawling industry has developed to provide tools to protect businesses from cybercrime. But as the few statistics presented here show, the weakest link seems to be the human user.
- End-user devices are considered as the most vulnerable by IT professionals, exactly because of being used by individuals outside of IT-controlled environments.
.png)
This article is available to logged users.
Sign in or request a login.
Disclaimer
This report has been produced by the organizational unit responsible for investment research (Research unit) of atonra Partners and sent to you by the company sales representatives.
As an internationally active company, atonra Partners SA may be subject to a number of provisions in drawing up and distributing its investment research documents. These regulations include the Directives on the Independence of Financial Research issued by the Swiss Bankers Association. Although atonra Partners SA believes that the information provided in this document is based on reliable sources, it cannot assume responsibility for the quality, correctness, timeliness or completeness of the information contained in this report.
The information contained in these publications is exclusively intended for a client base consisting of professionals or qualified investors. It is sent to you by way of information and cannot be divulged to a third party without the prior consent of atonra Partners. While all reasonable effort has been made to ensure that the information contained is not untrue or misleading at the time of publication, no representation is made as to its accuracy or completeness and it should not be relied upon as such.
Past performance is not indicative or a guarantee of future results. Investment losses may occur, and investors could lose some or all of their investment. Any indices cited herein are provided only as examples of general market performance and no index is directly comparable to the past or future performance of the Certificate.
It should not be assumed that the Certificate will invest in any specific securities that comprise any index, nor should it be understood to mean that there is a correlation between the Certificate’s returns and any index returns.
Any material provided to you is intended only for discussion purposes and is not intended as an offer or solicitation with respect to the purchase or sale of any security and should not be relied upon by you in evaluating the merits of investing inany securities.
Back to research
