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Cybersecurity: US Entities are not the only Victims of Cyberattacks
It seems like Chinese and Russian hackers are ganging up on US businesses, governments, infrastructure and just about any organization. The US attorney general has identified and charged hackers in China. The Obama administration also has charged Russian hackers with interfering with the US election.
But it looks like the US isn’t being singled out as the prime attack victim. Hacking is rampant globally, even in China where many in the US perceive Chinese as the attackers and not the victims. Cyber attacks grew 969 percent in China over the period from 2014 to 2016 according to a survey by PwC. An average Chinese company is the target of 7 cyberattacks every day.
Samuel Sinn, PwC China security partner, said that “we are witnessing attacks from all angles, but the industries facing the most impact include consumer, retail, and technology. Companies must continue evolving their security strategies to stay prepared for ever-growing cyber risks.”
Another reason behind the growth in cyberattacks is the rapid growth in use of IoT devices. Marin Ivezic, a partner on cyber security at PwC in Hong Kong, said that “IoT devices in general have not paid attention to cyber security. In China and Hong Kong … we have more adoption than anywhere else in the world.”
