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Cybersecurity has become vulnerable due to the advent of technologies as cybercriminals are using them to their benefit.
FREMONT, CA: Every organization is concerned about the increasing growth of cyber fraud. But with the development of technologies, cyber attackers are also becoming sophisticated with their attacks. Moreover, the nation and state criminal cyber-attack groups have started collaborating during work to apply an extensive amount of socially engineered attacks that consist of:
• Business Email Compromise (BEC) attacks
• Distributed Denial of Services (DDoS) attacks
• Trojan-horse malware attacks.
• Ransomware attacks
Cyberattacks' impact in the public and private sectors is essential because it can create a considerable risk in the financial, operational, and reputational areas. According to the cybersecurity researchers, data loss and thief have incredibly increased in the last few years. Moreover, the development and growing demand for technologies like the Internet of Things (IoT) have augmented the amount of attack on the IoT devices, particularly the ones related to the medical sector.
Vulnerabilities have also increased in the information systems, software, networks, and their particular endpoint, all due to the extensive utilization of internet and software applications. These loopholes regarding the security of data can create issues by amplifying the chances of fraud like business email scams, identity theft, cyber data breaches, and identity fraud.
After investigating the recent data breaches, it has been seen that the hackers mainly target personally identifiable information (PII). In most cases of breaching, PII is stolen, and it can even impact the identity documents.
The increasing market for cybersecurity
However, with the increase in cyber attacks, the demand for cybersecurity is also increasing. Each year, the industry has a wide range of security systems that contain professional services, hardware products, and software. There are also several organizes that offer to have a solution that is required to maintain cybersecurity. Cybersecurity is an evolving multi-faceted issue, and one product or service can't find a solution to reduce the challenges it brings.