- Ninety-five per cent of cybersecurity breaches are expected to arise due to human error
- The total number of smartphone users is expected to reach 673 million in 2020
According to a report by Grant Thornton, there was a 54 per cent increase in data breaches in 2019 as compared to 2018. The report also mentioned that 2020 will see a significant rise in the number of mobile-focused malware and banking Trojans.
With 5G and Internet of Things (IoT) devices arriving on the horizon, data speed will increase but the speed of cyber-attacks would also rise, said the report.
Cyber attacks on the rise
“Cyber attacks are on the rise and will continue to rise. It’s not a matter of if but a matter of when. A framework-driven approach with continuous monitoring will help companies mature their cybersecurity posture and address incidents proactively,” said Akshay Garkel, Partner, Cybersecurity & IT Risk Advisory, Grant Thornton India LLP.
“Ninety-five per cent of cybersecurity breaches are expected to arise due to human error. Human-centric security continues to be a major concern and requires people-centric solutions as well as technology,” said the report.
It highlighted that threat actors are expected to deploy advanced Artificial Intelligence (AI)-led attacks to boost the speed and impact of their campaigns. It further added that IoT will throw new challenges to data security.
The report further added that in 2019, 4.3 billion estimated records were breached as 34 per cent of reported cybersecurity breaches involved internal actors. Also, the total number of smartphone users is expected to reach 673 million in 2020.