Cybersecurity in 2017: 3 Crucial Takeaways

Cybersecurity is a massive issue facing businesses and individuals in 2017 and beyond. Cyber crime takes many forms, all of which are designed to compromise your business’s network. Some do so through trickery; this is the case with threats like phishing and malware. Others are more aggressive and less dependent on user error (denial of service attacks, for example). As more businesses struggle to keep up with the ever-evolving threat of cybercrime, we’ve identified three key talking points that help sum up the state of network security in 2017.

1. Not All Businesses Are Targeted Equally

95% of 2016’s cyberattacks were directed towards three key sectors: government, retail, and technology. This is largely because these sectors are highly dependent on personal identifying information and are thus more prone to attack, even if they take extensive steps to shore up their cybersecurity.

More than anything, this figure is symptomatic of a nationwide struggle to keep up with cyber crime. As cybercriminals continue to develop new methods of attack, cybersecurity job postings go unfilled.

2. Small Businesses Are Big Targets

43% of cyberattack targets are small businesses. While small businesses work with less data than major enterprises, they also tend to spend less on cybersecurity, making them soft, easy targets for cybercriminals. This is disturbing because many consumers choose to work with small businesses due to their sensitivity and customer service, and data breaches are a violation of that valuable trust.

To make matters even worse, cybercrime is extremely deadly to small businesses. 60% of small businesses that experience a cyberattack go out of business within six months. Unfortunately, this means that for many small businesses, cybersecurity isn’t so much a policy as it is a matter of luck.

3. Cybersecurity Spending Is Increasing

Cybersecurity spending will eclipse $1 trillion between 2017 and 2021. Cybercrime may cost businesses twice that much every year by 2019. Cybersecurity is an unwinnable war without increased spending, and many companies are starting to realize that cybersecurity is a smart investment.

Increased spending will help qualify more cybersecurity professionals and contribute to the development of artificial intelligence that can combat threats with more efficiency than any human technician. This frees up human minds for higher-level tasks and allows companies to focus less on self-preservation and more on taking the fight to the criminals.

The fight against cybercrime is an arms race that your business can’t afford to lose. If you’re curious about network security solutions and are serious about protecting your customers’ data and your company’s integrity, it’s worth having a discussion with an experienced cybersecurity expert who can help guide you along the correct path.

At 3Points, we aim to provide services that help Chicagoland businesses reach their full potential. Cybersecurity is one of those offerings. Reach out today and speak with a member of our team to learn more about what we can do for you.