DATA UNDER ATTACK CYBERCRIME INCREASES AGAINST THE WORLD'S NEW NATURAL RESOURCE |
Posted: December 30, 2016 |
Like infamous criminals, the names of notorious cyberattacks have become part of the tech industry’s collective consciousness, earning catchy monikers like Stuxnet, Conficker and Operation Shady Rat. Recently, in the midst of Verizon’s $4.8 billion deal to acquire Yahoo’s core business, it was revealed that at least 500 million user accounts at Yahoo had been breached two years ago, before the two companies began negotiations. Meanwhile, the FBI reports that the amount paid to ransomware criminals has jumped from $25 million in 2015 to $200 million in only the first three months of this year. And it’s not just Big Retail (Target, Home Depot), Big Banks (JPMorgan Chase, Citigroup) or media (Sony Pictures, Washington Post) that are among the most frequent targets, but hospitals and public school systems too. Last February, the Hollywood Presbyterian Medical Center paid cybercriminals approximately $17,000 after negotiating it down from an original demand of about $3.6 million. As haggling continued over the course of a week with the ransomers, the hospital’s network was offline, causing staff to struggle without access to email and critical patient data. Nearly 1,000 patients had to be sent to other regional hospitals. The same month, South Carolina’s Horry County School District paid $8,500 in Bitcoin to cyberattackers after administrators were locked out of several servers when a ransom computer virus breached its system. ‘Ground Control to Major Tom, You’ve Been Hacked’ Last year, the British insurance company Lloyd’s estimated that cyberattacks cost businesses as much as $400 billion a year, a figure which includes both direct damage and post-attack disruption to standard operations. Other annual estimates put the figure even higher and dire prognostications indicate that this cybercrime wave will not abate anytime soon. Juniper Research predicts that the rapid digitization of enterprise records and consumers’ lives through the Internet of Things (IoT) and wearables will increase the cost of data breaches to $2.1 trillion globally by 2019, an increase to almost four times the estimated cost of breaches in 2015. Click here for more details.. Contact Details:
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