Putting a figure on the cost of cybercrime annually is a difficult task. In 2018 in research done by EveryCloud, the recorded cases of cybercrime totaled $445 billion. How many more crimes went unreported? How many more have yet to be discovered?
Take the Cambridge Analytica scandal that broke last year. Journalists had been reporting on the data harvesting that the company was engaged in since 2015. But it was only in 2018 that the scandal actually broke.
What’s interesting here is not the breach itself, but rather how long it took to be uncovered. You must wonder how many other hacks have been perpetrated without anyone being any the wiser. Or how many cases have been left unreported.
The point is that we always have to be on our guard. The breach above shows just how vulnerable our data really is. In this case, it wouldn’t have been possible for the company to gather as much data if people hadn’t used the app.
It’s the Facebook equivalent of clicking on a phishing email and highlights the need for better education in terms of internet security. This is especially important for businesses who are required by law to protect their client’s data.
Security awareness training is something that no business can afford to ignore. Most breaches are as a result of human error, rather than a failure in your security systems. Here it’s the human element that puts you most at risk.
It’s worth noting that our personal data is also at risks if we don’t know the basic principles of online security.
If you’re wondering what your next step is, it’s simple—check out the infographic that we have below. You’ll get more information on cybercrime, and tips to help you protect your personal and business data.
Your key asset in this fight is knowledge and vigilance. The more precautionary measures you take, the safer your data becomes. There’s no guarantee that you’ll never be hacked, but you can stack the odds in your favor.
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