Counter-attacks on cybersecurity
Cyber-attacks are costly, disruptive and a growing threat to business, governments and society alike. Happily, an arsenal of standards helps stay ahead of the game.
Cybercrime is on the rise. And as we move deeper into the digital age, the era of the so-called Fourth Industrial Revolution, it is also growing ever more sophisticated and severe, with serious consequences. As cyber criminals become more adroit, cybercrime has touched all our lives in one way or another.
Cyber-attacks can range from hacking into systems and social media, phishing attacks, malicious software including ransomware, identity theft, social engineering and denial-of-service attacks. This is painful both personally and financially, causing untold damage and destruction, as well as leaving society and citizens vulnerable. According to McAfee, the computer security software company, the cost of these cyber-attacks is on the increase, amounting to around USD 1 trillion in 2020.
A growing global risk
With the COVID-19 pandemic having further embedded our growing dependence on digital systems, it is not surprising that the Global Risks Report 2022 has yet again included the threat to cybersecurity as one of the growing risks facing the world. Cybersecurity failures, it says, have worsened significantly and threaten long-term prosperity.
But how do we stay one step ahead? Building a good cyber-defence system as well as anticipating threats are key elements in the fight against cybercrime, but neither resilience nor governance is possible without credible and sophisticated cyber-risk management plans. “Cybercrime is both a national and international occurrence that is spreading with great speed, affecting businesses, governments and society as a whole. The scale and complexity of this criminal activity has far-reaching and detrimental consequences and the situation is blurred as cybercriminals operate, using technical infrastructure, across national boundaries,” says cybersecurity expert Dr Edward Humphreys.
Cybersecurity failures have worsened significantly.