(Threatcare) A recent report by the analysts over at Bank of America Merrill Lynch has revealed that cybersecurity is one of the top global risks today – and that it should also be one of the top focus areas for investors. The analysts say that cybersecurity is part of the five categories that they describe as “A Transforming World.” While many people are still just beginning to learn about cybersecurity, the fact is that it’s already become one of the most important industries around. Virtually any industry could be at risk of a cyber attack, and the longer companies wait to acknowledge the growing threat of hackers and cyber attacks, the more at-risk they’ll be.
According to the report, there are 90 million cyber attacks every year, if not more, and approximately 400 new threats pop up every single minute. A staggering 70 percent of attacks are carried out undetected, which means that many times, companies may not even be aware that they are at risk and their systems have been compromised.
Cybersecurity concerns strike every industry; whether you’re in finance, healthcare and insurance, manufacturing or retail, cyber defense should be one of your top priorities according to the analysts from Merrill Lynch.
Sources say that cyber crime takes about 20 percent of all internet commodities’ worth. This means that by 2020, a staggering $3 trillion in value could be at risk.
“If you think about how fast WannaCry malware spread — and how it affected hospitals — it would be hard to argue how it’s not a global threat,” Marcus J. Carey, the founder of Threatcare explains. The vulnerabilities of weak cyber defense don’t end with just hospitals, however. Many industries and even the government is at risk of being attacked by malicious hackers.
“In European and Asian countries software piracy is out of control, which leads to machines that can’t be updated. Some of these machines are used in government and healthcare, which is frightening,” Carey notes.
Clearly, it’s easy to see why Merrill Lynch analysts have identified cybersecurity as one of the top places to invest, in addition to being one of the top concerns corporations should have.