Cybercrime threatens to do more than $5 trillion in economic damage worldwide in the next five years, according to the ninth annual “Cost of Cybercrime” report. But that’s a projection, not a prediction. The report sets out three steps organizations can take to keep the costs of cybercrime under control:
- Focus on defending against people-based attacks such as phishing and ransomware, which target human vulnerabilities, and threats from malicious insiders.
- Invest in tools and processes to limit information loss and business disruption.
- Use technologies like automation, advanced analytics, and security intelligence to manage the rising cost of discovering attacks.
We recommend that all our small and midsize clients download the report, because we know from experience that its suggestions work. If you’re worried about how much cybercrime could cost your business, learn more about what’s included in our managed security offering and then contact us to put it in place.