The cybersecurity landscape is always changing: Between 2019 and 2020, ransomware attacks rose by 180 percent in North America alone, according to a 2021 report by cybersecurity firm SonicWall. The total global cost of damages from ransomware attacks is projected to exceed $20 billion in 2021, and the total global cost of cybercrime damages is predicted to soon be $6 trillion annually.
For organizations and individuals, creating protections against ever-evolving, ever-multiplying faceless criminals that steal identities and shut down businesses remains a challenge. The meteoric rise of ransomware attacks is just one facet of cybercrime proliferation amidst the pandemic that is creating an environment in which even newly developed cybersecurity risk management strategies are already outdated.
Charles Seets, Jr., partner and principal with Ernst & Young, says the cyberthreat landscape will never stop evolving.
“If we’re connected to the internet, we’re vulnerable, and threat actors know that. They’re operating relatively anonymously and often outside the reach of the law. It’s a complicated environment in which to defend ourselves,” Seets…
