XyberEdge
Information Technology & Services - Philadelphia, Pennsylvania, United States
XyberEdge Senior Management
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Cybercrime: The Greatest Threat to Business TodayTwenty years ago, cyber security was a mere footnote during IT meetings and has been a balancing act between productivity and protection for most companies. Fast forward to 2022 and that luxury of limited attack vectors has withered away. Every company is at risk, also yours.In fact, IBM's chairman, president, and CEO Ginni Rometty has stated, "Cybercrime is the greatest threat to every company in the world." Billionaire businessman Warren Buffet took it a step further and said cyberattacks are the number one problem with mankind, even worse than nuclear weapons. Without a doubt the impact that cybercrime is having on people and businesses worldwide is staggering. If it were measured as a country, then cybercrime — which is inflicted damages totaling $6 trillion globally in 2021 — would be the world's third-largest economy after the U.S. and China. Cybersecurity Ventures also expects global cybercrime costs to grow by 15 percent per year over the next five years, reaching $10.5 trillion annually by 2025, up from $3 trillion in 2015. This represents the greatest transfer of economic wealth in history, risks the incentives for innovation and investment, is exponentially larger than the damage inflicted from natural disasters in a year and will be more profitable than the global trade of all major illegal drugs combined. (Source: Cybersecurity Ventures Almanac)When it comes to avoiding cyberattacks, bigger is better. At least that's according to a new report that shows small and medium businesses are three times more likely to be targeted by cybercriminals than larger companies.66 percent of SMBs had at least one cyber incident in the past two years, according to Mastercard.Fight this scenario.Welcome to your safer XyberEdge future.
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