World Economic Forum's annual Global Risk Report 2018 termed Cyber Attacks as the third most likely global risk behind only extreme weather and natural disaster. With billions of people having access to the internet, it is a must to protect the privacy of people or it can lead to serious consequences.
With recent data breach of data of millions of people, it is evident that we might not be going in the right direction. Facebook data breach gave access to the data of as much as 50 million people to Cambridge Analytica running US president Donald Trump's campaign and several cases came up after that accusing Facebook of collecting and storing personal data without the consent of users.
Another such case was of MyFitnessPal, an app by Under Armor, leaked data of 150 million people over the world. MyFitnessPal confirmed the breach with an email to every user and a public announcement.
Cyber Attacks are continuously increasing, World Economic Forum's report cited that Cyber breaches recorded by businesses have almost doubled in five years from 2012 to 2017, breaches recorded in 2012 were an average 68 per business in a year to 130 per business in a year.
Cyber Attacks not only targets private businesses but the Government too and jeopardizes the whole country. A notable example of this is Wannacry attack, which affected 300,000 computers over 150 countries and disrupted critical and strategic infrastructure compromising operations across the world. Wannacry attack victims included government ministries, railways, banks, telecommunication providers, energy companies.
These attacks prove that the impact can be radical and irreversible systemic shocks to the privacy of people and integrity of a Government. With the continuous effort to increase the internet penetration over the world, we should make effort to protect the internet from vulnerabilities to really utilize the Internet for what it is meant for.