The number of cyberattacks is increasing across the public sector, but these threats are preventable with the right endpoint security solutions. Last year, an estimated 25 to 30 million cyberattacks occurred globally, according to a recent Frost & Sullivan Assessment. This assessment explored the current threat landscape faced by today’s public sector agencies, particularly with the Internet of Things (IoT) endpoints.
“With the pace of technological innovation, enterprise endpoints and the amount of data shared at the edge growing exponentially and expanding device interconnectivity creating vulnerabilities at a rate few organizations can handle, today’s business environment is widespread with cyber chaos,” said John Chen, Executive Chairman and CEO of BlackBerry. In 2019, there were 450,000 cyberattacks reported to the FBI – but it’s estimated that 90 percent of attacks go unreported. That’s upwards of 5 million attacks last year alone.
“Cyberattacks are a serious threat to everything from our personal data and privacy to an enterprise’s intellectual property and a nation’s critical infrastructure,” said Chen. These cyberattacks were estimated to cause over $5 trillion in damage this year, but this was before the pandemic occurred. According to the report, the FBI reported a 300 percent increase in cyberattacks during the first two months of the pandemic.
Since the pandemic, many agency employees have shifted to remote work – and it’s likely to be the new normal. “For enterprises, we predict global cyber-crime related costs to hit $5 trillion (USD) in 2020 and the number of new connected devices to rise to 67 billion devices by 2025, an increase of 167 percent from 2019. Indeed, the swift pace of technological innovation, combined with companies and individuals’ ever-increasing demand for mobility, means that the attack surface area will expand by an overwhelming amount,” said Roberta Gamble, Partner and Vice President, Frost & Sullivan. “For almost any organization, the question will no longer be if it will face a cyberattack—but rather, when. It is an imperative that all businesses ensure that endpoint security is the foundation of their strategy. Partnering with a solution provider like BlackBerry that has the technologies to comprehensively secure an enterprise’s data and communication is the most effective way to ensure security, resilience, and uninterrupted business continuity.”
These numbers should be concerning for agencies that have expanded IoT device usage throughout the pandemic – opening even more vulnerable points for bad actors to infiltrate networks. For agencies to ensure security for all connected devices, it’s time to look for a proven solution.