How Serious is the Cyber Threat? | Intellipaat

The amount of data thefts each year is increasing as the worldwide cyber threat develops quickly. According to a survey from RiskBased Security, data breaches have exposed an astonishing 7.9 billion records in just the first 9 months of 2019. When compared to the same time period in 2018, this amount is nearly double (112%) more number of copies disclosed.

The most breaches happened in the medical industry, retail, and public sector, with malicious criminals being most often to blame. Because they gather medical and financial data, some of these industries are more interesting to cybercriminals than others, but any firms that use networks might be the target of customer data theft, corporate espionage, or consumer attacks.

The International Data Corporation projects that by 2022, budget is spent on cyber-security systems would amount to a staggering $133.7 billion, as the scope of the cyber threat is expected to grow. In response to the growing cyber danger, governments all over the world have issued recommendations to support businesses in putting good cyber-security policies into place.

The National Institute of Standards and Technology (NIST) in the US has developed a framework for cyber security. The architecture suggests constant, real-time surveillance of all electronic information resources to prevent the spread of harmful code and help in early identification.