Every 14 Seconds There is a Cyberattack Around the World: Sberbank

International experts on cybersecurity have calculated that in 2019 cyber attacks happen every 14 seconds around the world. This year the number of scams using social engineering technologies all over the world is expected to grow further – as per the end of 2018 Sberbank’s experts have registered a 6% increase in this type of crimes. In 2019 one of the main challenges will be data leaks from corporations resulting from targeted attacks on their employees.

With a rising number of cyber attacks, the damage from them grows too. Compared to the $1.5 tln in damage to companies from different economy sectors last year, in 2019 Sberbank estimates the damage to reach $2.5 tln. By 2022 the World Economic Forum expects the planet-scale economic loss from cyber attacks to reach $8 tln.

Experts name technological trends as one of the reasons for the speedy growth of cybercrimes. By 2022 one trillion devices will be connected to the Internet. By 2023, 80% of people will have a digital avatar. Over 50% of the household internet traffic in 2024 will be consumed by “smart” devices and consumer electronics.

Sberbank successfully deals with a few thousand attacks on its systems daily. Therefore, cybersecurity issues are a priority for the bank. Sberbank will hold the second annual International Cybersecurity Congress in Moscow on June 20-21, 2019 where the international community will discuss global initiatives and the main principles of effective cooperation.

The ICC is a unique international cross-industry platform for global dialogue between representatives of government agencies, international business leaders and recognised industry experts on the most pertinent and acute issues of cybersecurity in the context of globalisation and digitalisation.

The second ICC will be a key event of Global Cyber Week, an international week on cybersecurity that will be held on 17–21 June in Moscow. It will be the largest industry event in Russia and Eastern Europe. It will unite several industry forums which will be attended by representatives of Russian and foreign state institutions, international organisations and companies, as well as independent experts and researchers.

The Global Cyber Week will start with the technical conference on practical cybersecurity OFFZONE which will be held on 17–18 June. On 19 June, an international online training session on international business cooperation to fight against digital threats titled Cyber Polygon will be held. It will be possible to watch the participants’ progress online in real time.

The first ICC was held in Moscow on 5–6 July 2018. The congress united more than 2,500 participants and about 700 organisations from more than 50 countries. Russian President Vladimir Putin welcomed the ICC’s guests in his opening speech.

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Chris Fernando

Chris N. Fernando is an experienced media professional with over two decades of journalistic experience. He is the Editor of Arabian Reseller magazine, the authoritative guide to the regional IT industry. Follow him on Twitter (@chris508) and Instagram (@chris2508).

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