The internet has become a utility as essential as electricity and water for organizations worldwide. But it’s also an unparalleled security threat, an inviting doorway for global criminal networks.
Malicious hackers still seem to have the upper hand even with billions spent on cybersecurity and a high level of awareness of the growing danger. The 2019 Hiscox Cyber Readiness Report found that 61% of firms reported a “cyber incident,” which stands as an increase from 45% from the previous year. The median loss also increased from $229,000 to $369,000, not counting brand damage.1