UM Labs

Cybercriminals are now estimated to pocket $1.5 trillion annually, a staggering amount equal to Russia’s gross domestic product, and five times the cost of approximately $300 billion resulting from natural disasters in 2017. Some studies predict that the takedown of a single cloud provider could result in $50 billion to $120 billion in economic damage, similar to the financial carnage stemming from Hurricane Sandy and Hurricane Katrina. May 2018, a number of distributed-denial-of-service (DDoS) attacks were launched targeting the Netherlands, affecting and temporarily shutting down the online banking of three of the country’s largest financial institutions. Thanks to the emergence of the darknet, cybercrime has become widely accessible and procurable, blurring the lines between legitimate e-commerce and illicit trade. In the Netherlands, an 18-year-old man was arrested in connection with the DDoS attacks who apparently hired a cybercriminal through one of the various marketplaces in the darknet and who “wanted to show that a teenager can simply crash all banks” with a few clicks. So with the everyday communications now happening using IP over the internet, for so many reasons, why do we miss the point that this is more important and a connection to content which is easily attainable as data in transit, with a value and the making of low residual value in any organisation if stolen? Time to accept that as with Call Fraud running at $29.9 billion globally, taking control of IPPBX is common place and having innovative protection, intercept and archive makes for lower risk and higher residual value in all organisations. https://www.um-labs.com/resources/download-the-cyber-criminal-value-chain-mirrored-by-business-risk-and-compliance-in-the-21st-century/