Executive Summary

• In Part One of this Deep Dive, we provide a summary of the current environment and discuss the components of cybersecurity.
• Computer malware and viruses have existed since the advent of the PC. However, it is the Internet that has enabled cybercriminals from around the globe to attempt to gain access to PCs and networks with little up-front investment.
• Cyberattacks have also become more powerful over time, due to the actions of organized criminal gangs and state-sponsored hackers. The sale of nation-state-level hacking tools on the dark web has further increased the capabilities of hackers.
• The proliferation of mobile devices such and the Internet of Things (IoT) has given hackers that many more entry points through which they can attempt to enter networks.
• Enterprises need to draft cybersecurity plans that detail how they will respond to cyberattacks, including identification, detection, response and recovery plans.
• Many attackers gain entry to devices and networks because of human foible: people often unwittingly make their systems vulnerable by creating weak passwords, clicking on suspicious attachments, failing to keep software patched and up to date, or ignoring warnings from network security monitors.
• Fortunately, a powerful cybersecurity industry has emerged, and many private and public companies now specialize in providing targeted hardware and software solutions to thwart and minimize the impact of cyberattacks. Venture capital investment in the space is also healthy, keeping the level of innovation high.