Protecting Yourself Starts with Understanding Scams

While many businesses are actively formulating operational plans and marketing budgets, it's imperative to acknowledge the significant challenges that could lead to substantial losses and extensive expenses if proactive measures aren't taken.

Anticipating 2024 as the Most Hazardous Year on Record for Scams and Cybersecurity

In today's blog, we may appear sensationalist—a departure from our usual tone. The subject matter demands attention, however. Whether you're a business owner, manager, or an employee invested in your workplace, the following information should be taken seriously.

The reality is that each passing year witnesses a marked increase in cybercrime, with 2021's ransomware costs totaling approximately $20 billion. Projections for 2024 estimate this figure to soar to $42 billion. While these statistics are not new to our discussions, the challenge lies in comprehending the magnitude—human minds don't naturally grasp figures in the billions.

Let's visualize this scenario: Picture yourself in a room with four others, each representing a different company. If you share a building or plaza with four neighboring businesses, consider this to underscore the profound impact of what follows.

In 2024, four out of the five businesses will likely fall victim to hacking. Cybercriminals, scammers, or cybercrime organizations will attempt to steal, alter, or breach critical company data. That means one of you in this theoretical room will be the only one who isn’t a victim.

The Escalating Threat of Scams and Online Vulnerabilities

Conduct a Google search for "loses $40k from hack," and you'll encounter numerous results, reflecting diverse stories from around the globe. $40k is just one arbitrary figure; countless reported cases detail individuals or organizations being defrauded of substantial sums. Searches for "loses $20k from hack" or "hackers shut down business" reveal ample coverage of real businesses and individuals falling prey to these incidents nationwide. Despite this growing predicament, people often underestimate their own security, and while many businesses neglect necessary precautions, modern threats invariably exploit the weakest link—the end user.

If a security-first culture isn't developed throughout your organization, the problems you have to deal with will only get worse, making you more susceptible to cyberattacks each year.

Building a More Secure Business

Rather than urging you to contact us for a consultation, let's focus on something more immediate. This blog isn’t meant to promote our services; our goal is to raise awareness. At the end of this post, you'll find a tag labeled "Security." Clicking on it will direct you to all our blog posts on this topic, providing a shareable page for others. Go ahead and bookmark this link and make it a point to return every so often to see what more we share about cybersecurity. 

Our team of professional IT technicians work with businesses every day and most of our job is dealing with processes so that our clients’ networks stay online and secure. Give us a call today to see how we can help at (02) 8825-5555.