Cybercrime has become a highly lucrative business, moving billions of dollars annually and presenting growing challenges for global security. According to recent estimates, cybercrime is expected to generate approximately $9.5 billion this year, with that number projected to increase to $10.5 billion by the year 2025.
This substantial economic sum primarily comes from what could be called a ‘revolutionary tax’ that companies are forced to pay after falling victim to cyber attacks, especially through digital extortion following a successful breach.
Ransomware: The Dominant Threat
The “ENISA Threat Landscape” study, which analyzes cybercrime from July 2022 to June 2023, shows that 31.2% of cybercrime incidents were ransomware attacks. This type of attack involves the hijacking of sensitive information and demanding a ransom for its release.
During a recent conference at the Digital Policy Workshop of the U.S. Embassy in Costa Rica, cybersecurity experts emphasized the need to be aware of the risks associated with cyberspace. Cybercrime not only affects individuals but also has a significant impact on society, given the amount of money it generates and its increasing global trend.
Advanced Persistent Threats: A Growing Danger
Another highlight at the conference was the danger of Advanced Persistent Threats (APT). These threat actors, often backed by states or governments, focus on undermining the infrastructures of governments opposed to their geopolitical interests, as well as conducting cyber espionage to gain tactical advantages.
The Need to Invest in IT Technology
To combat the growing wave of cyberattacks, experts recommend investing in information technology, workforce development, and establishing robust processes to effectively operate such technology. Additionally, they warn that in cyberspace, there are no borders, making international cooperation essential to fight cybercriminals.
The current landscape underscores the importance of cybersecurity not only as a protective measure but as an urgent necessity to ensure national and global security. Companies, institutions, and governments must be prepared to confront and mitigate these constantly evolving threats.