This Is What Happens When Cyber Criminals Succeed

When forecasting the next five years, cybersecurity specialists produced some bleak statistics. Cybercrime is on the rise, and it is not showing any signs of slowing down. With cybersecurity technology struggling to keep up with high-tech crimes, the industry is bracing for what is to come. The following are the top predictions for cybersecurity in the near future.

When Cybercrime Pays

Experts believe cybercrime expenses will skyrocket to $6 trillion per year by 2021, doubling the damages reported in 2015. To put this number into perspective, cyber criminals will make more money than the entire worldwide trade of all major illegal drugs put together. This number is not the prediction of one fearmongering individual, either. The cybersecurity community at large agrees that significant damages are imminent.

Cybersecurity Jobs Vacancies

Part of the ongoing problem with cybercrime is the lack of cybersecurity specialists. Experts predict this problem will not only continue but proliferate as well. In fact, the cybersecurity workforce shortage will triple, leaving 3.5 million jobs unfilled. Because of this shortage of skilled personnel, businesses are turning to their existing IT employees to bridge the gap. Employers are recruiting anyone who works in IT or deals with technology (e.g. app developers) to defend sensitive data, programs, devices, and more.

Blood is Thicker than Silicon

The percentage of the human population connected to the internet is growing at a rapid rate. In 2015, there were 2 billion internet users; that number is now up to 3.8 billion. That is just over half of the entire world population. By 2022, experts expect that number to increase to 75%. This is significant because cyber criminals are shifting their gaze from machines to humans.

Businesses employ a variety of tactics to contend with cyber criminals, but it is not always clear which methods are the most effective. Understanding your business’ specific risks and applying cybersecurity measures is difficult, but The Reilly Company can help. We pride ourselves on uncovering cyber liability risks and implementing solutions to resolve them. To learn more, contact us today.