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Cyber-criminality is a major Challenge for all democratic societies

The magnitude of the threat posed by cyber criminality is beyond doubt. State security services and experts agree that cyber attacks are rising steadily across the world. The perpetrators of such acts are organized criminal gangs or single individuals and of course some are sponsored by States. The Banking sector is the most affected by the growing cost of cyber-crimes. But virtually no sector of industry is untouched by these illegal activities. Security breaches have hit many companies and grew by 67% in the past five years (Re.Visual Capitalist).Business globally could incur $ 5.2 Trillion in additional costs or lost revenues over the next five years (Re.Accenture). Other reports provide different figures. However, all these numbers show a trend in the same direction. It is interesting to underline that the average time to identify a breach in 2019 was 206 days (Re.IBM). And 94% of malware was delivered by email (Re.Verizon). Another report stresses that over the coming years most breaches will target small-and medium-sized businesses because they do not have sufficient human resources and budgets to adequately defend against cyber threat (Re.Juniper). « Yet, cheap, relatively easy-to-use off- the shelf hacking tools make the barrier to entry for cyber criminals incredibly low »(D.Swinhoe CSO). As a result, and this is key to explain the magnitude of the threat, cyber attacks often cost far less than cyber security.

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