As retailers head into the busiest shopping season of the year, the importance of data security should be at the top of mind for both retailers and consumers. With the increased volume of online transactions during the holidays, retailers and consumers alike become prime targets for cybercriminals.
If it were measured as a country, then cybercrime — which is predicted to inflict damages totaling $8 trillion USD globally in 2023, according to Cybersecurity Ventures — would be the world’s third-largest economy after the U.S. and China, surpassing the wealth of entire nations.
Johnson Controls has confirmed being hit by a disruptive cyberattack, with a ransomware group claiming to have stolen 27Tb of information from the company.
Over the last few years, ransomware has grown into one of the largest cyber threats facing businesses today. These attacks can cause enormous damage to an organization’s operability, data, and reputation — not to mention the costly financial repercussions.
We discuss the true cost of data breaches and delves into data-backed strategies so your organization can proactively manage these potential liabilities.
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