Cyber crime in the past few months is highly accelerated and has a great impact on the global economy and information exposure threat as well. Many countries are being affected by cyber crime and there seems to be no solution to protect them.

According to a report on cost of data breach by Ponemon and IBM, in 2015 the average total cost of data breach increased from $3.52M in 2014 to $3.79M. That will further reach to $2 Trillion by 2019. It’s not so far the way things are going; we are going to be affected badly in coming years.

In 2014 we have seen high-end data breaches at large companies, all the stolen data was exposed to black market within weeks. It was estimated to be 360 Million accounts credential leak in 2014.

The statistics below shows the cyber crime affected countries of 2014, that some how failed to manage their privacy.

Earlier in 2015, IBM’s security researchers presented some trends of cyber attacks. This includes:

Mobile Threats

Ransomware

Wide use of anonymity networks and stronger encryption

Biometric attacks

Attack on Payment schemes

Cyber warfare

These attacks affected more than expectations and will get intense in 2016 as more organized crime groups step up their presence in the digital realms. In 2015, the cost of cyber crime for the global economy has been estimated at $445 billion annually.

Now in the first quarter of 2016, the cyber crime has become the fact of life; we should implement some solid strategies to overcome this problem. Researchers are exploring ways to encourage organizations and individual to look ahead from general awareness to a clearer sense of what’s at risk? Why they should care? And what action should be taken?

The cyber security threat has a great impact on consumers around the world, according to research by Norton: “Consumers around the world lost an average of $358 individual in cyber crimes”. The average loss has increased to $298 in 2013 to $358. The attackers are not stopped yet; they are surprisingly growing and threatening more like never before. The new research indicating that the cost and frequency of cyber crime have both continued to rise for the third straight year.

2016 is the year of cyber security emergency for many countries like the United States , Japan , and Korea and other. They are facing many cyber attacks every day and loosing crucial data in Millions that is not bearable.

We already heard many cases till now in 2016; many ransomware cases have been rising aggressively in the first quarter. The attackers are rapidly coming up with new attacks that are somehow costly than previous attacks. The cyber security threat in 2016 is increased by 50% than in a few years back. People are left distrusted with their credential details.

According to research by Infosec Institute , in 2012 till the end of 2014 the most affected countries by cyber attacks were Russia , China South Africa. However, in 2015 United States , Japan and Russia became the new target of the cyber criminals.



2016 is getting worse, as till now we already encountered many cyber crimes costing $228 Million already. According to Kespersky lab first quarter report for 2016, 228,420,754 malicious attacks were detected and repelled, 4146 mobile Trojan and 2896 mobile ransom Trojan are detected yet. These attacks are followed in 195 countries.

The major targets are Russia , Brazil , United States , India , France , Canada , China , Taiwan , Mexico and Korea .

This cyber security threat is not getting slower, but rising so far. Furthermore, IBM has predicted Bio-metric attack to be rising in 2016 for the fraudulent authentication purpose and IoT to be used further for ransom attack. They further said that “We expect to see bio-metric data exploited in fraud scenarios in 2016”. So we should prepare our self to prevent these threats and overcome such issues.