Why Should Your Company Worry About Cybersecurity?
Cyber threats pose significant risks, including financial losses, damage to reputation, and legal liabilities. Prioritizing cybersecurity can protect against these threats, enhance customer trust, and ensure compliance with regulations, saving a business from potential fines and brand reputation damage.
You’ve got a group of people that are more powerful than any banker, merchant, manufacturer, politician, president, or whatnot. People who control the brightest and most intelligent minds on the planet, who tell presidents and congressmen what to do.
They were able to predict the global pandemic with stunning accuracy in the World Economic Forum’s and Bill Gates Event 201 (October 2019) and in the Rockefeller Foundation report Scenarios for the Future of Technology and International Development (2010).
Just to be clear they've predicted the virus pandemic and a lot of other stuff as well as how the virus would cause a worldwide pandemic, and every country would lock down.
And now they're predicting a Cyber Pandemic.
Clause Schwab, the head of the World Economic Forum said a cyber attack would bring a complete halt to power, transportation, hospitals, and our society as a whole.
He went on to say that the next pandemic would be a cyber pandemic. And it will make the last Covid pandemic look like a mere disturbance because you will lose access to hospital services, transportation, banking, and everything would come to a grinding halt…including the power.
Just like a virus can attack people and shake up entire economies and societies, in the digital world similar risks are being overlooked. Right now a Cyber attack with co-like characteristics would spread far faster and further than any biological virus.
It would spread faster and do more damage than what we experienced with the Coronavirus.
And it has already started…
According to the World Economic Forum
- Companies are blocking entire countries from accessing their websites.
- 93% of cybersecurity experts and 86% of business leaders believe global geopolitical instability is likely to lead to a catastrophic cyberattack in the next two years
- Lack of skilled cyber experts is a threat to business and societies with key sectors such as energy utilities reporting a 25% gap in critical skills.
- Despite challenges, organizations are improving cyber resilience. Read the Global Cybersecurity Outlook Report 2023 report and visit www.weforum.org for more information on the Annual Meeting in Davos 2023. Share on social media using the hashtag #wef23
According to the Global Cybersecurity Outlook 2023 report, 93% of cybersecurity experts and 86% of business leaders believe “a far-reaching, catastrophic cyber event is likely in the next two years” and there is a critical skills gap that is threatening societies and key infrastructure.
The report highlights the shortage of talent and skilled experts. The actual experts that work with the corporations and governments said 34% of cybersecurity experts lacked some skills in their team, with 14% saying they lacked critical skills.
As our digitally connected world expands, now is the time to build cyber resilient businesses for customers, employees and supply chain partners.
Basically the entire world would come to a grinding halt due to a situation like Israel and Hamas or Russia and Ukraine or any type of war or conflict where hackers get involved.
The biggest and brightest minds, the people with the deepest Pockets, the most powerful people in the world, are all talking about this and that alone should make it worth paying attention to.
From the biggest companies to the smallest, everyone is starting to pay attention to it.
And the more you look into the more it looks like things are about to get real.
Even the New York state Bar Association is getting ready for a cyber pandemic that has the potential to cause widespread damage to businesses and individuals all over the world. Every business is at risk.
Every law firm, hospital, doctors office, insurance company, bank, anyone doing business using a computer should be looking at how to protect their clients information.
Now is the ONLY time to prepare.
And no one should be relying on the currently available software programs, outdated ideas, or ignoring it all together but should instead be looking at blockchains, multifactor authentication, endpoint detection and response and storage encryption. They also need to have a skilled security team at their disposal.
Both China and the US defense just to name two have research programs to identify vulnerabilities in commercial devices and Platforms.
Today a cyber attack can do more damage than a nuclear attack and is easier to recover from.
Hacking groups, including some tied to Russia, are attacking Israeli government and media websites.
Internet companies Google, Amazon and Cloudflare say they have weathered the internet's largest-known denial of service attack and are sounding the alarm over a new technique they warn could easily cause widespread disruption.
Alphabet Inc-owned Google said in a blog post that its cloud services had parried an avalanche of rogue traffic more than seven times the size of the previous record-breaking attack last year.
Internet protection company Cloudflare Inc said the attack was "three times larger than any previous attack.
Amazon.com web services division also confirmed being hit by "a new type of distributed denial of service (DDoS) event.
All three said the attack began in late August; Google said it was ongoing.
Denial of service is among the web's most basic forms of attack and it works by simply overwhelming targeted servers with bogus requests, making it impossible for legitimate web traffic to get through.
The recent attacks measured by Google, Cloudflare and Amazon were capable of generating hundreds of millions of requests per second.
All three companies said the supersized attacks were enabled by a weakness in HTTP/2 - a newer version of the HTTP network protocol that underpins the World Wide Web - that makes servers particularly vulnerable to rogue requests.
Almost half (48%) of all American small businesses have been hit with some kind of Cyber attack over the past year according to a survey from accounting and payroll software provider Sage.
Annual amount of monetary damage caused by reported cybercrime in the United States from 2018 to 2022.
- in 2018 it was 2,710
- in 2019 it was 3,500
- in 2020 it was 4,200
- in 2021 it was 6,900
- in 2022 it was 10,300
And this is without the electrical grid going down. Most modern cities couldn’t make it a day without power, much less six months, to a year or more. Because without electricity none of the things that enable us to live in a modern society will work.
You will go from getting your news in seconds to getting your news in months.
And the most powerful, best connected people with more access to the smartest people in the world are saying this will happen anywhere from 6 months to two years from now.
It just makes sense if you have the most powerful people in the world all sitting in a room saying this is likely what's going to happen. And I mean the most powerful, most connected, and these are the people who are hiring the smartest and brightest people in the world are all sitting in a room together saying this is the most likely outcome, then you should probably start preparing for it.
And if the multibillion dollar corporations don’t know how to prepare, how much more do the mom and pop stores, Doctors, and law firms have to worry about?