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The Future of Cybersecurity in 2021 and Beyond | Spotlight Features

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By Jack M. Germain
Feb 16, 2021 5:00 AM PT
Some cybersecurity experts agree with a report by Cybersecurity Ventures and expect financial damages from cybercrime to reach $6 trillion by the end of this year. Industry studies show that cyberattacks are among the fastest-growing crimes in the United States.
Cyberattacks are absolutely on the rise. Based on everything we know and every single analyst we have spoken with, there is no doubt that attacks are increasing, according to Robert McKay, senior vice president, risk solutions at Neustar.
Cybersecurity experts predict that in 2021 there will be a cyberattack incident every 11 seconds. This is nearly twice what it was in 2019 (every 19 seconds), and four times the rate five years ago (every 40 seconds in 2016), he told TechNewsWorld. ....

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The Future of Cybersecurity in 2021 and Beyond

Cybersecurity experts predict that in 2021 there will be a cyberattack incident every 11 seconds. This is nearly twice what it was in 2019, and four times the rate five years ago in 2016. The rapidly growing increase in cyberattacks worldwide comes at a hefty cost for businesses in order to better protect their computer networks from intrusions. Cyberattacks not only are increasing in frequency, but they are costing victims larger financial losses. ....

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Ransomware attacks way down at schools, hospitals so far this year

The drop in ransomware attacks this year may be partly attributed to the aggressive actions of the Department of Justice. (NurPhoto/Contributor via Getty Images)
Some good news, for once: Health care and government organizations started 2021 with ransomware incidents at their lowest point in more than a year.
Recorded Future reports that there were just two ransomware attacks on healthcare organizations in January, a fourfold decrease from the monthly average in 2020. In addition, state and local governments reported four ransomware incidents in January, compared to 14 attacks in December 2020 and 15 in December 2019.
Allan Liska, a ransomware expert at Recorded Future, said one explanation for the decline are the various crackdowns on ransomware groups. In January, the Department of Justice brought charges against a Canadian national as part of its effort to take global action against operators of the NetWalker ransomware. Earlier this ....

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Ransomware and Cyber-Extortion Payments Double in 2020 - Infosecurity Magazine

The total cost of ransom payments doubled year-on-year during the first six months of 2020.
Based on incidents reported to Beazley’s in-house breach response team, BBR Services, ransomware attacks increased in terms of both severity and costs this year compared to 2019 and have become the biggest cyber-threat facing organizations.
Paul Bantick, Beazley’s global head of cyber and technology, said: “Our underwriting, claims and threat intelligence database shows that ransomware attacks are much more sophisticated and severe, thus, it is critical that organizations adopt a layered approach to security and take stringent measures to make it hard for threat actors at every step.” ....

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