Cyberattacks and data breaches show no signs of abating any time soon.
According to the website gomindsight.com, cryptojacking attacks are up 8,500%, Internet of Things (IoT) device attacks rose 600% and software supply chain attacks jumped 200%. Some of the biggest breaches of 2018, according to bluefin.com, included Marriott (500 million records); British Airways (380,000); MyFitnessPal (150 million); MyHeritage (92 million); and Facebook (30 million).
Furthermore, cybercrime losses are expected to hit $6 trillion by 2021, and 43% of attacks are aimed at small businesses — raising concern for most electronic security companies and many of their customers. That is why electronic security professionals are coming to realize, especially as their systems increasingly ride on networks and connect to the Internet as well as add on IoT devices, the threat is very real and escalating.
It took a few years, but the electronic security industry is paying more attention to cybersecurity — both as a threat and opportunity.