With the increase in the intensity and severity of attacks to personal cyber security, the question that has been floating around is, “Why is cyber security of great importance?” This issue is gaining significance because of the prevalence of cyber attacks to governmental institutions, business corporations, and even individuals. Therefore, it becomes necessary to come up with measures to prevent and counteract threats to your personal cyber security.

 

One reason why cyber security is important is that in the recent years, the monetary costs incurred from cyber crime have gone up, ranging from $400 billion to $500 billion. These threats include destruction of data and information, diminished productivity, embezzlement, forensic investigation, fraud, as well as theft of property, be it intellectual, personal, or financial. According to a report by Cybersecurity Ventures, the projected value of cyber crime will rise significantly by 2021, to $6 trillion annually. This also includes cyber threats on medical devices.

 

The growing importance of personal cyber security is also highlighted by the progressive severity of these attacks. They are now not focused on only financial or intellectual property, but on other avenues such as information networks, infrastructure systems, and medical devices. This broad approach makes it necessary to enact a strong plan to protect your personal data. The implementation of digital technology in business has augmented the success of the cyber security industry. The reason is that it has increased the security spending.

 

However, it is important to note that just like in any other industry; there is a struggle to balance growing cyber security needs and budgetary constraints. As the industry expands, individuals, companies, and governments need to recognize the significance of allocating adequate funds to cyber protection.

 

About Rubica Inc.

 

Rubica is a data security and privacy firm that was established in 2016 to protect the digital rights of individuals in an attempt to curb the instances of cyber crime. The firm is led by a highly-qualified team of experts with previous experience working in Scotland Yard, the US Navy, and NSA.

 

Rubica is a privately-held company that provides powerful world-class solutions, designed explicitly to provide personal cyber security for you, your family, and your entire business network. The firm provides real-time analysis to eliminate complexity in cyber security by identifying any threats to your personal data and addressing them accordingly.

More at https://www.nytimes.com/2017/06/27/technology/ransomware-hackers.html