The article discusses the increasing financial impact of cybercrime on businesses, with attacks like ransomware and DDoS causing significant losses. Average costs for DDoS attacks have risen to $6,000 per minute, while ransomware payouts have skyrocketed, with a record-breaking $75 million ransom paid in 2024. Third-party vendor breaches and industry-specific vulnerabilities are also contributing to escalating costs.
Companies are facing growing pressure to address these threats, yet many are struggling with cybersecurity talent shortages and burnout. Despite paying ransoms, recovery costs continue to rise, and cyber insurance often doesn’t cover all expenses. Investing in preventive measures and continuous monitoring is critical to mitigate risks.
For more detailed insights, check the full article here.
The Transformation of Crime in the Information Age
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