Business

Financial armour: protecting the digital

SPONSORED: Stop talking about what if successful cybersecurity is the what now, where to, and what’s next.

09 November 2021

In 2020, a report by Cybersecurity Ventures and Intrusion predicted that the global cost of cybercrime will exceed $6 trillion by the end of 2021 and achieve the giddy heights of $10.5 billion by 2025. This makes the cybercrime economy the third largest in the world - if it were a country, it would be sitting in the top three just after China and the US.

Mimecast’s State of Email Security report found that more than six in 10 companies experienced a ransomware attack in 2020, with a 64% increase in email threats and 79% of companies feeling the pain of these attacks due to lack of preparation or unexpected vulnerabilities. It’s a landscape so riddled with hidden dangers it’s little wonder that every other article unpacks how to protect the company from disaster. But, with risk on the rise and a successful attack a given, particularly in the financial services sector, the real conversation is, according to Wayne Olsen, Managing Executive Cyber Security from BCX, what to do after the ransomware has struck home.

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