Governments, military, corporations, financial institutions, hospitals,
businesses, and individuals collect and store a great deal of private
information on computers. Researchers estimate that there will be about
7.5 billion internet users by 2030 (i.e. roughly 90% of the projected
world population of 8.5 billion). All of these internet users amass
data, which can be transmitted across networks to other computers, but
must be done securely in order to prevent data breaches.
In the
recent past, high profile data breaches resulted in a larger focus on
cybersecurity policies. In 2013, Yahoo experienced a security breach,
resulting in the release of personal information of 3 billion users,
including birthdates, passwords, phone numbers, and security questions.
However, Yahoo did not report this breach by hackers until three years
later. As of 2023, the Yahoo data breach is still the largest data
breach in history.
In 2018, the Equifax Credit Bureau experienced
a data breach that compromised the credit card information of
approximately 143 million users. The Equifax breach was the largest
credit card attack in history. With the growing volume and
sophistication of cyberattacks, ongoing attention is required to protect
sensitive business and personal information, as well as safeguard
national security.
In 2017, the WannaCry ransomware attack
gained notoriety as one of the most extensive ransomware incidents ever.
. The WannaCry ransomware infected roughly 200,000 computers in over
150 countries, including the UK’s National Health Service. WannaCry
originated from a leaked version of tools used by the U.S. National
Security Agency. Although Microsoft had issued an update to fix the
entire WannaCry database, many organizations and individuals did not
update their systems. The attack spread to multiple countries before
finally being stopped when a 22-year-old security researcher in the UK
discovered a “kill switch” in the program by accident. At the end of
2017 the United States and the United Kingdom blamed the North Korean
government for the cyberattack. The attack had a significant impact on a
numerous industries and cost nearly $4 billion to resolve.
Cyber
terrorism, data breaches, and ransomware are considered the biggest
cyber security threats. Cyber terrorism is of particular concern because
the politically motivated use of computers and information technology
can cause severe disruption or widespread fear in society. Security
experts highlight that cyber terrorism attacks can cripple the military,
financial, and service sectors of advanced economies. Cybersecurity
Ventures predicted that by 2025, cyberattacks will cost society $10.5
trillion every year.