Cybercrime’s prevalence and costs are significant. The UN reported that cybercrime skyrocketed by 600% during the pandemic, a result of an almost overnight reliance on digital working, shopping, and communication. There was a 10% increase in the average total cost per security breach from 2020 to 2021, while a McAfee report estimates that the global cost of cybercrime has now reached over US$1 trillion.
Easy targets: smart retail and smart cities
The need for vigilant cybersecurity measures is paramount. The retail sector has proven especially vulnerable. Trustwave reports that retail is on the receiving end of 24% of all cyberattacks, more than any other industry. Read More
