According to the Hiscox Cyber Readiness Report 2021, the proportion of businesses targeted by cyber criminals in the past year has increased from 38% to 43%, with over a quarter of those targeted (28%) experiencing five attacks or more.  Additionally, one in six businesses attacked (17%) said that the financial impact had materially threatened the company’s future.

In 2020 and 2021 we have seen some large-scale data breaches at major global corporations as well as government agencies. These cyber-attacks don’t just expose your data but can also cause severe financial losses, hammer your customer trust and tarnish your company’s reputation.

Gareth Wharton, CEO of Hiscox Cyber said, “One of the big takeaways of this report is the worrying range of financial impacts that cyber-attacks can have…. The risk of inaction is that the next attack could be enough to sink the business.”

How to defend against these out-of-control cyberattacks?  The answer is to implement quantum cryptography.  It is a foolproof way to help preventing not only cyber threats today but also in the fast-approaching quantum era.  And IronCAP’s quantum-safe encryption is the best-in-class quantum cryptography available today.  It has passed the due diligence of its global partners, ascertained secure at 2 global hackathons and most importantly proven IMMUNE to attack methodologies used against traditional encryption systems such as RSA.

Cyber threats are real and ever increasing, and can turn catastrophic with the arrival of quantum computing.  Businesses and government agencies should not just “sit and wait”.  They need to act now to implement IronCAP’s cryptography to protect their data today and in the quantum future.

At IronCAP we strive to create a cyber smart community.  Be cyber smart with us.  To learn more, visit www.ironcap.ca.

Reference:
Insurance Journal
Hiscox Cyber Readiness Report 2021