Letter from the Editor
Hackers Aren ’ t Operating Like They Were 20 Years Ago – Are You ?
Many executive-level decision makers think that purchasing anything more than a firewall and antivirus is superfluous for their IT infrastructure . All those cybersecurity tools , they say , are just a sales tactic from hungry IT salespeople . Sure , a firewall and antivirus may have been enough 20 years ago . Not today . Hackers aren ’ t thinking or operating like they were 20 years ago . Still , many business owners think about cybersecurity the same way they did two decades ago – and it ’ s costing them big-time .
In 2018 , cybercrime was a $ 3 trillion a year industry . In 2021 , it was $ 6 trillion and by 2025 , it ’ s expected to be a $ 10.5 trillion a year industry . Those numbers don ’ t happen by accident . The hackers are different today . Criminals are not working out of their college dorm room or their mother ’ s basement . They are running a business . Like you , they get dressed in the morning , grab a cup of coffee and clock in , then they get to work finding vulnerabilities in your business .
It ’ s not just where they work : how hackers operate is different . When I worked at a CPA firm in the early 2000s , my boss was infected with the ILoveYou virus . As soon as he clicked the link , the virus immediately infiltrated his contacts and sent them “ I Love You ” e-mails . That ’ s how viruses worked back then : they came into your system , hit the target and exploded . Today , the average hack sits 280 days on your network before attacking . Through recon , they find out how much money – down to the penny – you have in your accounts . Then they ’ ll execute . For example , in 2021 , the Colonial Pipeline was breached due to a compromised password on a secure VPN network . Viruses can sit dormant on your network for up to two years . They used to say , “ It is not a matter of if but when you will get hacked .” Now they say , “ It Is not a matter of when you will get hacked , you probably have already been hacked .”
When small and medium businesses get breached because they don ’ t have practical cybersecurity tools and policies in place , it costs them on average $ 200,000 to recover . This cost is so difficult to bounce back from that 60 % of SMBs
Konrad Martin Co-Founder and President Tech Advisors
go out of business within six months of a breach . The cost doesn ’ t simply amount to what you pay in ransom fees ; you might lose your cybersecurity insurance or face double premiums , plus a bad reputation with your clients and community , which affects your financial stability . Sometimes there are state or attorney fees involved after a breach , and on top of that , even if you do manage to get back on your feet , you ’ ll have to pay an IT managed services provider for all the tools you didn ’ t have in the first place .
This is what I tell my clients who balk at the price of security stacks . It ’ s my job to protect you . That ’ s why I get up every day and do our work at Tech Advisors . To make sure you have what you need , to increase the chances that you never feel the impact of a cybercriminal – not to sell you a product you don ’ t need . When you understand the threat , you place value on the protection the tools offer , not the price tag .
I ’ ve brought you the second issue of Today ’ s Cybersecurity to give you access to even more knowledge that will provide you with a competitive advantage , growth and confidence that professional cybercriminals will never take you – or your business – down .
Sincerely ,
Konrad Martin
Co-Founder and President Tech Advisors
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