With the rise of technology, the whole global economy is rising at a fast pace. However, with several perks offered by the technology, there is a rise in cybercrime too. As revealed by ExpressVPN, the global impact of cybercrime is estimated to be 8 trillion USD in the year 2023, where Germany alone lost 225 billion USD.
All the countries in the world need to understand the importance of cybersecurity and invest proper resources to elevate it.
In this article, we will look into the investment details of different countries in the domain of cybersecurity. Moreover, we will learn more about some common cybercrimes. So, without any further ado, let us dive into the details.
Your Guide To Cybersecurity Spending: An Overview Of Different Countries
USA
Cyberattacks in the US are increasing at an alarming rate in sophistication and number. TO counter the threat of rising cyberattacks the government of the US has proposed a 12.72 billion dollar budget for the fiscal year 2024.
The allocated resources will be used to ameliorate the cybersecurity strategies to secure the infrastructure and technologies of the country.
Japan
NICS (National Center of Incident Readiness and Strategy for Cybersecurity) in Japan recently found that their email system has been compromised and the breach may have leaked personal data that was included in the emails.
In September 2023, Japan National Police Agency and NISC teamed up with US counterparts to tackle the threats and prevent breaches. The government of Japan announced 6.7 million USD for a cyber defense project to use locally developed security software in all government computers by 2025 to elevate cybersecurity.
UK
The UK is also investing proper resources to tackle the rising threat of online hackers and cyber attacks. The government allocated resources amounting to 26.8 million USD for the domain of cyber security.
Moreover, to target the threat of rising cyber-attacks globally, the government, stability, and security fund doubled the spending. The fund reached a value of 25 million pounds by the year 2022-2023.
India
India has also doubled its allocation of funds to 759 crore Rupees for 2024-2025 to strengthen the overall cybersecurity for the country which is nearly double the amount of 400 crores that was allocated in 2023-2024.
The country aims to protect its infrastructure with better cybersecurity projects and strategies to rise in the global economy and stand its ground.
A ransomware attack affected the AIIMS (All India Institute of Medical Sciences) in 2023 so the government is allocating proper funds to avoid such attacks on the institutions and protect the sensitive information of people.
3 Common Types Of Cyber Attacks
Phishing
Phishing involves the installation of malicious software through links. The unsuspected users are tricked into giving sensitive information and cybercriminals impersonate popular and trusted brands.
They create fake profiles on social media and rogue websites to target users and lure them to full forms where they can get their hands on personal information.
Spoofing
Spoofing is a sneaky cyberattack where a hacker pretends to be someone else or something else online. They might fake an email address, a website, or even a phone number to trick people into giving away personal information or downloading harmful stuff. For example, they could pretend to be your bank and ask for your account details.
Once you give them your details, they can easily steal your money. Spoofing attacks can cause big problems because they are hard to spot, and they can lead to identity theft, financial loss, or even damage to a company’s reputation. That’s why it’s crucial to stay vigilant online.
Malware Or Ransomware
Malware is a program code created with the intent to harm a personal computer, server, or network. It is one of the most common types in the domain of cyberattacks. Trojans, spyware, keyloggers, and ransomware are some of the subsets of malware.
Cybercrime In No Joke
Cybersecurity problems can really hurt countries. When there are weaknesses in cybersecurity, important information can be stolen. This can be dangerous for a country’s safety, its economy, and how much people trust their government.
Cyberattacks can also mess up important things like power and money systems, causing big problems for everyone. Sometimes, countries might try to steal secrets from each other using computers. This can make it hard for a country to keep up with new technology and hurt its economy.
It’s like a digital fight that can make things bad between countries and even lead to real wars. So, it is important for countries to protect themselves from these cyber threats.
