Cybercrimes have cost the world $2 trillion so far in 2019, according to recent research. Cybersecurity Ventures predicted in 2017 that damages would hit $6 trillion by 2021, prompting global spending of roughly $10 billion in cyber-security measures by 2027 to protect against these catastrophic losses.
But it’s not just the big companies and organizations that get hit. Average, everyday consumers experience phishing schemes, ransomware attacks, identity theft, data breaches, and financial losses. For instance, it takes just five minutes to hack an internet-connected device, which includes your smartphone, smartwatch, on-board automobile computer, smart television, and home control systems, according to a Netscout report.
This means the more we rely on the internet, the more we need good cybersecurity in all its forms. But first, let’s see what we’re up against.
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