Cybercrime by the Numbers

Cybercrime by the Numbers

Cybercrime has long ceased to be something local and disorganized. It has become a branch of the economy and is quickly turning into a full-fledged industry.

One of the most interesting aspects of today’s cybercrime economy is how it is stratified:

large theft processes are structured almost like multinational corporations
and smaller ones like small single-owner enterprises.

Large operations can generate more than $ 1 billion in profit per year, while smaller operations can generate $ 30,000-50,000.

According to the latest data, the global cybercrime market is $1.5 trillion. This figure is comparable to the GDP of Canada or Australia in 2017, according to the World Bank.

The US estimates the plan to rebuild the country’s infrastructure at the same amount. According to some reports, individual cybercriminals can earn up to half a million dollars a year simply by trading stolen data.

The rapid development of the cybercrime industry is a natural consequence of the digitalization of today’s world. An important aspect is that the digital process is only at an early stage, and cybercrime has already turned into one of the global industries.

With the increasing digital of processes and interactions, the growth rate of cybercrime will increase exponentially.

According to International Data Corporation (IDC) estimates, in 2025, the volume of unprotected data requiring protection will be almost half of the entire existing volume of data, while the same figure for 2015 was only a quarter. In the digital world, the interaction does not take place between people or companies, equipment, and processes, but between their digital projections and data.

With the growth of the digital process, more and more such projections will appear. Reliable means and methods of identification and authentication are evolving from essential to mission-critical.

In response to this need, new technologies, methods, and means of identification and authentication are creating.

Of course, these technologies are convenient, mobile, and have many advantages in comparison with traditional methods.

But they also have many disadvantages from the point of view of security, which does not allow us to talk about their widespread use.

At the same time, new technologies expand the identification and authentication market. It plays an important role in the development of the information security market and allows building cost-effective information security processes.

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