The Booming Business Of Cyber Crime

Cybercrime has changed in a big way. It used to be those emails claiming you inherited 20 million dollars from a Nigerian prince, but scammers have become more complex and set their eyes on bigger targets.

The Breakdown

While phishing scams and fraud for individuals are up, cybercriminals have increasingly been going after larger corporate targets.

A shocking 68.5% of organizations worldwide said they had been victimized by ransomware attacks in 2021.

Percentage of companies effected by vyber
Statista

The Average cost to organizations in the U.S. alone rose to over $8.64 million in 2020! 

Cost of data breaches to orginizations
Statista

One of the reasons corporate cyberattacks are increasing is the move to remote work. WIth people login into servers from their personal computers and communicating more over email and zoom, it has opened up new opportunities for criminals to hack into corporate systems.

In one example, scammers were impersonating CEOs and stakeholders with deep fake voiceovers to get large amounts of money transferred.

So yea, maybe the I.T. bill is why your boss wants you to return to the office so badly.

The Opportunity

With cybersecurity costs rising for organizations, this presents quite a few opportunities for entrepreneurs. Sure, you could start just another cyber security company, which might work, but here are a few original ideas I think would also be great.

Encrypted Corporate Communication Apps

Telegram has proven to be popular, so why not make a corporate version you can sell to companies? A version of this that looks like slack would be a no-brainer.

Zoom Identity Verification Apps

Zoom has some identity verification features, but I think it could be done a lot better. I think someone could create a plugin with facial recognition and voice scanning recognition. So it could tell the difference between the real you and a recording of you.

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