Global cybercrime is expected to cost a total of USD 6 trillion in 2021, and go on to grow to USD 10.5 trillion in 2025, according to Cybersecurity Ventures.’ Ransomware attacks alone have grown 61x in six years to USD $20 billion in 2021, with an attack currently occurring every 11 seconds. A 2021 IDC survey found that more than one third of organizations polled worldwide had suffered a ransomware attack or breach in the past 12 months (and often more than one attack). And while IBM estimates that the cost of a single data breach now stands at USD $4.24 million, the true cost of breaches can be much higher: in some instances, hospitals in the United States have had to dived emergency patients to other hospitals and turn away ambulances because of ransomware attacks.
Firmware attacks can be a particularly pernicious threat for organizations. This is because an attack vectored on firmware can implant malware before the operating system (OS)—and thus the software-based security running on that OS—has even started. Yet less than half of organizations have taken steps to harden their systems against firmware attacks, even as such attacks have grown five times more frequent in the last five years. At the end of the day, workloads are only as secure as the entire stacks that they run on.
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