Cybercrime Has Cost 8 Trillion – Cybersecure IT Solutions Are The Only Way Out!

Updated on March 18, 2024, by Xcitium

Every year there are predictions about losing billions to trillions of dollars; hence, aren’t they the wake-up calls for us? Maybe business entrepreneurs are busy beating their competition, but the unexpected reality is in front of us.

The upcoming years will be surrounded by more lethal and catastrophic cyber-attacks, as the rate of losing the global economy has crossed eight billion alone in 2023. Where are the global brands that are in the race to be the ultimate unicorn in their respective industries? Now is the time to understand the need for cybersecure IT solutions that have been here to help for decades.  

Cybercrime Has Cost The World Around 8 Trillion In 2023 

Yes, and the upcoming years are going to bring unfortunate moments as predictions have exceeded the 11 trillion mark. In revealing pitiful scenarios, the US comes under countries that have been the target of cyber criminals since the birth of cybercrime-as-a-service (CaaS). As per recent reports, the cost of cybercrime has doubled, and last year, cybercrime drained more than 12 billion from the US alone.   

So, what’s the reason here? There can be many in fact! We are not going to write down the list involving every emerging cause but would like to share factual points regarding losing billions to trillions every year.  

Global Financial Frauds 

Google News gets loaded with headlines of financial frauds by cybercriminals. In the world of financial scams, phishing traps, password leaks, and credit card scams are the most common. Companies, government agencies, healthcare centers, education institutions, and common civilians usually trap themselves in these sorts of financial frauds, and the rate increases every year.   

Ransom Payment Extortions 

Data of companies and government agencies should not get into the wrong hands, period. As the results of security breaches often lead to ransomware attacks. In this type of digital extortion, ransom payment is asked by the digital pirates from the companies after hijacking the networks and data theft. The successful reclaim of data doesn’t guarantee the prevention of future attacks; plus, the chances of misuse of stolen data remain high.   

Customer Trust & Global Economic Impact 

You lose people’s trust and industrial support after facing unwanted data theft and financial fraud. Customers don’t turn to their exploited service providers which causes them to lose assets and estimated financial backing. Similarly, attacks of cybercrimes in specific industries bring global economic impact that results in slow financial regularities and instability in associated business companies.  

Why Hasn’t The World Acquire Cybersecure IT Solutions Yet? 

The impact of COVID-19 was huge not only for developing but also for first-world countries. However, now every industry is back in the game to help entrepreneurs to create their own empires. So, why is the world still lacking the understanding of the need for cybersecurity IT solutions? Maybe we are searching for the answers with the wrong approach. Hence, it is not the effect of COVID-19 waves at all. Here are some of the actual reasons; 

Resistance To Change & Uncertainty About Cybersecurity Services 

The industrial era was never ready for social revolution but here we are living in the age of business entrepreneurship. In the same way, people couldn’t dream that they would ever accept digital practices and AI automation. However, the reality of employing both digital software and AI tools is quite open. Although, the acceptance of availing cybersecurity services is still not the cup of tea for many business companies.  

Financial Instability & Lack Of Resources 

In today’s social sphere of business entrepreneurship, the industry of small business startups has emerged and is quite successful as well. Thus, the protection of data of the small private businesses is still questionable. The apparent excuses are financial instability and lack of resources in SMEs. Therefore, the revolutionary change of cybersecure IT solutions is on hold in the SME industry.   

Awareness Factor & Misconceptions  

Lack of understanding of various cybersecurity-managed variants is a shortage of knowledge and misconceptions about IT security are also a shortage of knowledge. Every wrong dilemma and perception about cyberspace safeguarding services leads the world far away from the IT security revolution. That’s why cybercrimes have become the dangerous pirates of our digital social world.   

Cybersecure IT Solutions Were Always Here To Help 

Cybersecurity services offering vendors have never left enterprises and small business startups. As the availability of different types of alternatives (MSP, MSSP, and SOC) is an example of cost-efficient IT security help for companies.   

Cybersecure IT solution-providing leaders are spreading the positive message of helping to fight cyber-crimes together. All the offered services play a key role in motivating businesses to stand up for themselves and say no to every system breach attack. Here are several business-supporting cybersecure IT solutions that are enough to stop every digital malware payload and system breach.  

Modern Technical Support & Training  

The hired team offers all the modern technologies to companies along with staff training for active utilization. It doesn’t matter whether the hired partner offers remote or physical operation services, here cybersecurity software that are often offered to each business partner;  

• Traffic control firewalls 
• Ultra AVs 
• EDR (endpoint detection and response) 
• MDM (mobile device management) 
• XDR (extended detection and response) 

IT Security Monitoring Of Companies 

The remote cybersecurity support of fully managed IT security partners (MSSPs and SOCs) involves all-day active monitoring of technologies and employees’ activities. This allows the client companies to supervise everything and take necessary actions.   

Helpful Hand In Compliance Management 

Fresh business companies and most enterprises can’t handle compliance and other industrial regulations on their own. Therefore, to alter every legal action and industrial backlash, cybersecure IT solution-providing vendors can help in compliance management and save companies from possible future business hurdles.  

Strong & Secure Future Without Cyber Threats 

The excuse of not acquiring cybersecurity services due to higher costs isn’t near to be found. MSSPs and SOCs have made it effortless and cost-effective for enterprises and small business startups to be free from financial requirements. Now every company can be strong and secure to prevent every future cyber threat.   

Xcitium Can Be Your Cybersecure IT Solutions Partner 

The search for the best cybersecure IT solution provider should end here. It has been decades and still, Xcitium has never stopped becoming the reason for numerous businesses to run their successful endeavors without the fear of cyber-attacks. Now it is your time to collaborate and be a malware payload-free business company.