Identity-based cyber crimes are growing annually and at the rate of its growth, companies are bound to lose more in the future. To battle the growing threat, companies could rely on identity management software that uses top-notch authentication methods to secure the accounts of all registered users.
A study by Cybercrime Ventures reveals that the cost of cybercrime damage could reach $6 trillion annually by 2021. This rapid increase in damage is due to the fact that more and more companies are shifting towards digital assets for their businesses. Hackers now have more reason to attack companies.
It’s not just entire companies that hackers are after. Even individuals and their identities are now at risk for these attacks which grow worse by the year. -Carla Grace Mesina