Online businesses that are most targeted by cyber attacks

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The year 2020 proved disappointing to many businesses as the lockdown schedules observed across the globe incurred loss to companies in one way or the other. On the security front, a research carried out by Cybersecurity Ventures has predicted that the cyber attacks on online business will bring an estimated loss of $6 trillion to companies operating across the globe by 2021 and the gaming industry is said to be impacted the most.

Statistics suggest that the financial worth of the gaming market across the globe will reach $138 billion by 2021 and will also become an attractive target for criminals to launch cyber attacks.

Next in the line will be the online casino industry that lacks adequate measures to mitigate sophisticated cyber risks like DDoS attacks. Although some businesses in this segment have taken Cybersecurity seriously by implementing Cloudflare DDoS protection, more companies need to understand that showing laxity on this note could probe fatal for their future.

Firms in E-commerce like online shopping platforms, cryptocurrency exchanges and those belonging to technology should also make a note that there has been an exponential increase in data breaches and online attacks. And the only way to protect is to become better equipped to handle attacks filled with sophistication with related hardware and software.

Interestingly, from the past two years most companies hosting online business have understood the value of following basic Cybersecurity measures as they know data breaches can not only lead to financial losses but also can make them lose the trust of their valuable customers forever, leaving them the only option of shutting down their business.

For instance, Yahoo suffered a huge data breach during the regime of Marissa Mayer that not only negatively influence the company’s acquisition deal with Verizon Communications, but also made it loose around 100,000 customers to Google.

So, the best way is to invest in threat monitoring solutions on a proactive note to safeguard the platform and data, keeping users and investors super happy.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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