There is no doubt since the invention of the computer that the advances in today’s technology have created new heights in effectively connecting our world. This immediate connection has benefited individuals, institutions and businesses globally. However, along with this virtual world has come the birth of cybercrime. Some believe it has replaced organized crime.
It is predicted to be over $1 trillion from 2017 to 2021 in global spending on cybersecurity according to “Cybersecurity Market Report”.
Ransomware is an epidemic! Did you ever think that an epidemic would be controlling our lives and economics through a device? Merriam-Webster defines an epidemic “affecting or tending to affect a disproportionately large number of individuals within a population, community, or region at the same time.” Merriam- Webster also defines epidemic as” an outbreak or product of sudden rapid spread, growth, or development”.
According to Steve Morgan of Cybersecurity Business Report, “global ransomeware damage costs are predicted to exceed $5 Billion in 2017”.