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Cybersecurity

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Ben Liu

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Cybersecurity

  1. 1. THE AGE OF CYBERSECURITY By Ben Liu
  2. 2. With the rapid digitization of consumers’ lives and enterprise records, cybersecurity is a rapidly growing global issue that will require the combined cooperation of consumers, corporations, and government alike
  3. 3. Research from Juniper Research suggest that cybercrime costs will rise to $2.1 trillion globally by 2019[1]
  4. 4. Technology and social media is an indispensable part of our lives. It gives us a psychological boost – “we use media to meet our real needs, delight needs, and secret needs” [2] Thus, there is a media symbiosis: we need media and media need us
  5. 5. The need for technology and media is for everyone – not just younger generations Studies have shown from the university of Illinois that when older adults acquire technologies and develop digital literacies, they may acquire a higher standard of life [3]
  6. 6. This creates huge vulnerabilities, when we pour our personal lives into the online world: online activity data, user passwords, home addresses, private chats, etc.…
  7. 7. Everywhere that there is technology, there can exist a cybersecurity vulnerability where our personal data is at stake: Bruce Schneier, a cyber-security expert and author worries that readers may steer clear of digital books on sensitive subjects such as health, sexuality, and security – including his own works – out of fear that their reading is being tracked. [4]
  8. 8. Cyber hacks have grown rapidly in recent years, causing a spark in the cybersecurity industry (25%) 0% 25% 50% 75% 100% 125% 150% 175% 200% 2011 2012 2013 2014 2015 2016 2017 BVP Cyber Index Nasdaq Index S&P Index Dow Jones Major Hacks Dec 19, 2013 Target, 70MM Apr 26, 2013 LivingSocial, 50MM May 21, 2014 eBay, 145MM Feb 4, 2015 Anthem, 80MM Nov 24, 2014 Sony Pictures BVP Cyber Index: 29 Publicly Traded Cybersecurity Companies 2011-2017 [5]
  9. 9. Research from Juniper Research forecasts the average cost of a data breach in 2020 will exceed $150 million[1], as more business infrastructure gets connected Today, most businesses are still overconfident in their cybersecurity – it’s low risk but with high damage
  10. 10. But corporations are not the only ones who should be ramping up on the cybersecurity initiative… cybersecurity starts with individuals like you and me…
  11. 11. According to Cisco, Facebook scams were the most common form of malware distributed in 2015[6]
  12. 12. Facebook reported for 2015 that up to 2% of their monthly average users were false = 31MM [7] Twitter estimates 5% = 10.75MM [8] LinkedIn openly admitted that “we don’t have a reliable system for identifying and counting duplicate or fraudulent accounts” [9]
  13. 13. Cyber criminals are now weaponizing social media sites and their data Anthem Inc, a major American health insurance company, was hacked in 2015 leading to 78.8MM records stolen[10]
  14. 14. How did this happen – LinkedIn was a key tool for reconnaissance (scraping of public social data and social engineering tactics) for the cyber criminals who executed Anthem Health’s 2015 breach[9]
  15. 15. President Obama has issued an executive order aimed at improving critical infrastructure In addition, in 2016, Obama included a budget proposal of $19BN for cybersecurity – a $5BN increase YoY [11]
  16. 16. But Cybersecurity cannot be fought just by the private sector…
  17. 17. There is a need for a public campaign on cybersecurity – similar to how campaigns were launched in the past to raise awareness on issues like smoking or recycling[12]
  18. 18. Steven Weber, faculty director at the UC Berkeley Center for Long-Term Cybersecurity acknowledged part of the problem for many people is that cybersecurity still feels like a technical issue related to the protection of computer networks. It’s time to “demystify the network” for folds outside the core tech sector, he said. [12]
  19. 19. The problem of cybersecurity is like second-hand smoke – people are motivated by the negative externalities
  20. 20. But cybersecurity doesn’t just come as a personal cost, it affects the community as a whole – individuals, businesses, and government alike need to work together to prevent the rapid growth of digital threats
  21. 21. Works Cited • [1] "Cybercrime Will Cost Businesses Over $2 Trillion by 2019." Cybercrime Will Cost Businesses Over $2 Trillion by 2019. N.p., n.d. Web. 05 Mar. 2017. < https://www.juniperresearch.com/press/press-releases/cybercrime-cost-businesses-over-2trillion> • [2] Matrix, Sydney Eve. FILM 240. Module 01, Lecture 02 N.p.: n.p., n.d. Print. • [3] Kim, Kyungo, Chodzko-Zajko Wojtek, Andiara Schwingel, and Deana C. McDonagh. "Understanding Older Individuals’ Emotional Responses to New Technology Associated with Healthy Lifestyle Choice." Journal of Physical Education and Sort (2014): 138-47. Web. • [4] Alter, Alexandra. "Your E-Book Is Reading You." The Wall Street Journal. Dow Jones & Company, 19 July 2012. Web. 05 Mar. 2017. • [5] "| Bessemer Venture Partners." | Bessemer Venture Partners. N.p., n.d. Web. 05 Mar. 2017. • [6] "Cisco 2016 Midyear Cybersecurity Report." TS Ad. N.p., n.d. Web. 05 Mar. 2017. <https://newsroom.cisco.com/press-release- content?type=webcontent&articleId=1780586> • [7] "SEC Filings Details." Facebook - Financials - SEC Filings Details. N.p., n.d. Web. 05 Mar. 2017. • [8] D'Onfro, Jillian. "Twitter Admits 5% Of Its 'Users' Are Fake." Business Insider. Business Insider, 03 Oct. 2013. Web. 05 Mar. 2017. • [9] "Why Social Media Sites Are The New Cyber Weapons Of Choice." Dark Reading. N.p., n.d. Web. 18 Mar. 2017."Executive Order -- Improving Critical Infrastructure Cybersecurity." National Archives and Records Administration. National Archives and Records Administration, n.d. Web. 05 Mar. 2017. • [10] Mathews, Anna Wilde. "Anthem: Hacked Database Included 78.8 Million People." The Wall Street Journal. Dow Jones & Company, 24 Feb. 2015. Web. 05 Mar. 2017. • [11] Reuters. "Obama Budget Proposal Includes $19 Billion for Cybersecurity." Fortune.com. Fortune, 09 Feb. 2016. Web. 18 Mar. 2017. • [12] "Thinking Ahead: Cybersecurity In The Trump Era." Dark Reading. N.p., n.d. Web. 05 Mar. 2017. • All photos and images obtained from Pixabay <https://pixabay.com/>. “All images and videos on Pixabay are released free of copyrights under Creative Commons CC0. You may download, modify, distribute, and use them royalty free for anything you like, even in commercial applications. Attribution is not required.”

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