As cybersecurity expert Kingsley Hayes, the risk of a spike in data breaches is very high. This theory is certainly valid, considering that 4.5 billion people, or 59% of the world's population, now spend a lot of time online .And their data is much more exposed to cybercriminals.
Cybersecurity companies have said that despite the global effort being made to combat cybercrime, with expected global spending reaching $1 trillion, experts do not see sufficient levels of investment .
Kingsley Hayes, Keller Lenkner UK of Data Security, commented: “Businesses across all sectors will face extraordinary and varied challenges as we all face this unpredictable threat of Covid-19. While many may be struggling to survive, protection must remain a top priority. This is particularly important to do as soon as possible as a significant number of employees are working from home.”
"Businesses across all sectors must act now to protect their customers' data and, by extension, protect their business."
“Latest figures from the Information Commissioner’s Office (ICO) show that the total number of incidents reported almost halved in the first quarter of 2020/2021.”
“While seemingly showing a positive trend, it is more likely that the significant drop is a result of data breach incidents going unreported as normal infrastructure and work practices continue to be disrupted by the pandemic.”
“ Phishing is the biggest cyber risk, accounting for nearly 45% of all incidents recorded in the last quarter. Human error was responsible for more than 71% of all reported incidents. The most common mistake was sending personal information to the wrong email recipient.”
“The pandemic, the failure of businesses to adequately invest in mitigating data protection risks, and the increasing reliance on technology, is a perfect recipe for data breaches.”
