What's Our Biggest Information Security Threat?

[Audio] What's Our Biggest Information Security Threat? Information security faces a wide range of threats that can compromise the confidentiality, integrity, and availability of sensitive data. These threats include but are not limited to hacking, malware, phishing, social engineering, insider threats, physical theft, and natural disasters. From my view cybercrime is one of the biggest information security threat..

[Audio] But what then is cybercrime? Cybercrime refers to any criminal activity that is committed using digital technology. Some common types of cybercrime include hacking, which involves unauthorized access to a computer system or network, phishing, which involves tricking individuals into revealing sensitive information through fake emails or websites, and ransomware attacks, which involve encrypting a victim's files and demanding payment for their release. I can say cybercrime is the biggest threat since it has effect on, humans, governments, individuals and organisations in various dimensions like financially, physically, psychologically and emotional.

[Audio] But why do I say Cybercrime is the biggest threat? Cybercrime is a global problem that affects individuals, businesses, and governments around the world. According to the Cybersecurity Ventures 2021 report, cybercrime is expected to cost the world $10.5 trillion annually by 2025. In addition to financial losses, cybercrime can also result in reputational damage, loss of intellectual property, and physical harm, emotional and even psychological harm.

[Audio] The cost of cybercrime financially is significant. According to the Cybersecurity Ventures report, the cost of damages and lost productivity from cybercrime is expected to reach $6 trillion in 2021. In addition to these direct costs, cybercrime can also result in indirect costs such as legal fees, regulatory fines, and reputational damage..

[Audio] Cybercrime has impact on humans. Victims of cybercrime may experience emotional distress, loss of privacy, and identity theft, low self esteem cause people to live in fear. Cybercrime can also lead to physical harm, such as in the case of cyberstalking or cyberbullying.

[Audio] Even though being one of the biggest threat cybercrime can be prevented at various levels that is individual, organizational and governmental level. Organizations and individuals can take steps to protect themselves, such as using strong passwords, encrypting sensitive data, and providing cybersecurity training for employees..

[Audio] Cybersecurity awareness is also key in prevention of cybercrime. . Organizations and individuals should be aware of the risks associated with digital technology and take proactive measures to protect themselves. Providing cybersecurity training and resources can help individuals and employees to better understand these risks and take steps to mitigate them.

[Audio] In conclusion, Cybercrime is a critical issue in today's world that affects individuals, businesses, and governments. Cybercrime can have significant financial, emotional, and reputational consequences for its victims.

Cybersecurity Ventures. (2021). Cybersecurity Ventures 2021 report: Cybercrime damages to cost the world $10.5 trillion annually by 2025. Retrieved from https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021 / Kshetri , N. (2018). Blockchain's roles in meeting key supply chain management objectives. International Journal of Information Management. https://doi.org/10.1016/j.ijinfomgt.2017.12.005 Sjouwerman , S. (2021). The cost of phishing: Understanding the true impact beyond the numbers. KnowBe4. Retrieved from https://www.knowbe4.com/hubfs/Cost_of_Phishing_KnowBe4_Report.pdf.