In a report from Cybersecurity Ventures, it is estimated that by 2021, cyber crime will exceed 3.5 million worldwide. This is a disturbing news considering the potential havoc that will be wrecked by such a huge figure of cyber crime.
For instance, damage costs from global ransomware are expected to exceed $5 billion from $325 million in the last two years. It is as a result of this disturbing reality that IBM’s president and CEO, Ginni Rometty said that “Cyber crime is the greatest threat to every company in the world.” The statistics show that the CEO was right.
If cyber crime continues its ascent at this alarming rate, the whole world, including people and other inanimate things may become victims of cyber crime. That will be a huge challenge. What can we do to stem this tide and prevent this cyber holocaust? Should we just fold our arms and expect the technology gurus come up with counter software or technology?