Protect Your Assets: What are Cyber Threats

Authors: Stephanie Hedrick and Michael P. Gould

This scenario has more than likely happened to all of us: You are quietly working on your computer, when all of a sudden a screen pops up, “Your computer has been infected.

“Last year the cost of global cyber crime was estimated to be 388 Billion USD – with an individual falling victim to a form of online crime every 19 seconds.” Lockton UK recently released a report, “Cyber Risk Decoded,” where they provide an in-depth analysis on cyber risks, a problem that is on the rise with the ever-increasing need to go digital.

The report indicated what are the main cyber risks today, showing that the majority of the data breaches were from Human Error or from a glitch in the system, most commonly stolen laptops, flash drives, emails with sensitive customer data, databases not being protected or loss of unencrypted data in transit from one organization to another. Theft, spear phishing, Hacktivism, Denial of Services (DOS), cyber-extortion, cloud computing and emerging themes were also trends in how businesses and individuals are being susceptible to cyber threats.

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