Rapid digitalization has unlocked tons of opportunities for everyone, but it has also given rise to a new set of digital threats that can jeopardize both our data and financial resources. Every now and then, a new case of a cyberattack surface and makes the news, and while the target is almost always a corporate or government entity, it is the general public that faces the highest risk.
On July 5, 2021, between 800-1,500 businesses around the world fell victim to a ransomware attack centered on US information technology firm Kaseya. Recently, a local bank reported a cyberattack on its network however officials from the financial institution assured the customers that the data of the users remained safe.
A cyberattack is when a person tries to gain unauthorized access to a computer system. Cybercriminals are known to copy data and either blackmail the affected company to pay compensation for the return of the data or sell it on the dark web.
There are many kinds of cyber threats with malware and phishing being the most prominent ones. The rising incidence of cyberattacks has widened the horizon of a subfield of IT known as cybersecurity.