The usual methods of a breach — from phishing to malware — have enabled criminals to creatively extract confidential information from businesses. Yet, the target is most often vulnerable sites, especially government agencies or high-profile organizations. Malicious attacks are crimes of opportunity. Therefore, businesses fortified with a sophisticated cybersecurity strategy are less at risk.
Verizon’s “2020 Data Breach Investigations Report” (DBIR) unveiled how the cost and risk associated with cybercrime is usually much higher than most predictions. Cybercrime is, despite its perception, a growing risk for those with layers of protection and those without it. Record-breaking fines, plummeting share prices, and sky-high legal fees — these are a few of the financial risks that can harm the reputation and integrity of any business.