Businesses around the globe are set to lose in the region of £4.8 trillion by 2020.

This, frankly astonishing figure is due solely to an increase in Cyber Attacks  – Professor Kerem Alkin, the Chief of MOBILSIAD Turkeys Mobile Service providers Association has said.

In 2015 this figure was at around £2.4 Trillion meaning cyber attacks are either targeting twice as many businesses or the sophistication and reach has doubled, likely both are a factor. Furthermore, an increase would also be witnessed in the world’s cybersecurity expenses as it is said to reach £796 Billion from £89 Billion. The number of devices connected to the internet be they mobile or not will reach around the 200 billion mark with people using over 300 Billion passwords every day.

Some scary figures regarding cyber-attacks and ransomware is that from 2015-2017 the average company was said to get exposed in some shape or form to ransomware every 40 seconds! This is potentially business crippling cyber-attack. The exposure rate is now predicted to reach the 14 seconds mark this year!
Hackers are now gathering more and more profit with minimal effort and investment their preferred method to corrupt the weakest part of any IT system, the human element. This lucrative avenue of attack is the reason everyone is experiencing more an more forms of phishing attack be this business or personal. This method is proving highly lucrative for those lurking in the relative safety of the dark web. Ransomware as a service, phishing attacks, spearfishing are all earning hackers larger profits with minimal effort so the trend will continue to rise.

MOBILSIAD is a 2009 founded organization comprising of 24 members and developed in solidarity and cooperation between Mobile services providers offering value-added products, services, and technologies over telecommunication platform.

If you would like to know more about how to protect your business data or would like to arrange an IT System Health/Security Review, please get in touch.