10 Facts You Need to Know About Data Security

Data Security, data security solutions

The recent and alarming trends in identity theft has the taken the whole world by storm. Each single day, as many as 390,000 new spiteful programs are getting registered. As per the official figures, it is one of the rapidly growing crimes of the US with the nation said to be on the hit list of the international cyber attackers. The fact that cyber-attacks cost a hole of a whopping $400 billion annually reinstates that it is an issue of serious concern. And the onus for the growing menace of cybercrimes must go to the increased use of IT for management of various data and processes, 10 Facts You Need to Know About Data Security.

Each and every industry is either incorporating or already has incorporated IT into its business/organization. And to cash in on this growing use, the IT culprits and hackers are trying different ways to attack and steal vital data. All this has resulted in huge financial losses besides loss of customer faith and goodwill.

No wonder, majority of businesses, whether big or small, are quickly incorporating various data security solutions to safeguard and enhance their efficiency. And this has led to an enormous growth in the cyber security industry thereby creating a huge demand for cyber security or data security professionals having requisite skills and expertise. Hence, it would not be wrong to say that the data security industry has a long way to go.

As of now, let us dive deep into the issue and catch a clear picture of what exactly is the current state of affairs related to data security industry or cybersecurity industry, as we all love to say. So, here are some of the most interesting yet alarming facts/risks and statistics related to data security. Here we go…………………..

1. There is an acute shortage of cyber security personnel with requisite skill sets. The demand for data security professionals has witnessed a tremendous growth with growing threat of identity theft. By the year 2021, the number of vacant cyber security jobs globally will reach nearly 3.5 billion. This shows a rise of 74% over the last five years period.
2. Do you know that a whopping 1 billion records are said to have been stolen in the year 2014 involving nearly 1,500 data breaches. This revealed a threatening rise of around 78% in the year 2014 as compared to 2013. This brings forth a harrowing fact that now days; data breaches have become more common as well as highly sophisticated.
3. Since the year 2014 when the FBI first added a cyber-criminal to its “Most Wanted’ list, the list has now 42 people. The FBI has a list of cyber criminals involved in data security thefts ranging between $350,000 and $100 million. And do you know who is tops this list? Well, he is a computer programmer named Park Jin Hyok who is a member of a hacking organization having state sponsorship.
4. Every 39 seconds, there is a hacking attack. Yes, as per a study conducted by a Clark School at the University of Maryland, on an average, there is an attack on data security every 39 seconds. The US is the top target for data security attacks (followed by India-17%, Japan-11%, and Taiwan-7% respectively), and every year, it affects every one in three US nationals.
5. The data security breach cost will go beyond $150 million in the year 2020(on an average), states a recent study by Juniper Research. As per the details, cyber security breach will cost as much as $2 trillion in the year 2019. A viable solution is to invest in data security solutions available at Nuwber.com and safeguard your data adequately.
6. On an average, US firms have to shell out nearly $15.4 million annually on data security solutions in order to deal with cyber security attacks. This has been revealed by a report by the Ponemon Institute of Cyber Crime and Hewlett Packard. $15 million has been earmarked by the US government for the fiscal year 2019 for data security solutions. This shows an increase of around 4% over previous years.
7. In the year 2016, the three industries that became the top target of cyber security theft were government, retail, and technology industries. Yes, the data figures reveal that nearly 95 percent of the records breached pertained to these three industries. The reason behind these industries being becoming a soft target of cyber security theft could be due to the type of information (personal information) contained in their industry records.
8. Each year, nearly 80 to 90 million data security attacks go unnoticed or unchecked. And this boils down to nearly 400 new cyber-attacks every minute. Such worrying statistics point out the growing significance of data security solutions to safeguard from cyber-attacks.
9. Hacking is an insider job? Yes, that’s quite true. As per a study by Symantec, nearly 59% of former employees admitted having involved in data security thefts. Now this is something very disturbing and a big blow to faith and trust entrusted on employees.
10. The IT security intelligence is available on different platforms with IT personnel. However, the problem is that such information remained underutilized in majority of organizations primarily due to lack of awareness among its professionals.

Moreover, many businesses, including small and medium businesses, show reluctance in adopting data security solutions. Just 2% of SMBs safeguard their websites and systems with adequate data security, reveals a study by the Department of Communications and Arts in Australia. This is despite the fact that 43% of cyber security attacks involve small business organizations.

Moreover, nearly 60% of small business organizations become insolvent after bearing a huge data security attack, states the department. One of the common misconceptions of majority of SMBs (small and medium businesses) is that their businesses are too small to become the target of data security thefts.

Seeing the vast and deadly impact of data security thefts and breaches in the world, we need to take a serious view of the scenario and invest in data security solutions being offered by Nuwber.com.  After all, you aim to protect your personal information and devices from cyber security threats.