Microsoft has unveiled a new weapon for cybercrime

Microsoft has unveiled a new weapon for cybercrime

Microsoft has unveiled a new cybersecurity project in a blog post that would allow small and large organizations to leverage the tech giant’s in-house security services and staff.

Microsoft has unveiled a new weapon for cybercrime

It was reported that cybercrime risks have increased “at an alarming rate over the last year” as the epidemic has accelerated the growth of consumers’ and organizations’ digital presence faster than ever before.

The present “security landscape has become increasingly tough and complex for our customers.”

Indeed, Microsoft supplied some figures to demonstrate how critical the situation has grown in terms of digital security. Cybercrime costs were $3 trillion in 2011, but they are expected to double to $6 billion by 2021. By 2025, that figure is forecasted to soar to $10.5 trillion on an annual basis.

As for the attacks that evaded security and mitigation systems, the consequences proved to be devastating. In 2021, nearly $7 billion was stolen from individuals due to various cybercrimes — malware and phishing scams as well as others.

In 2021 alone, the company said its Microsoft Security service blocked over 9.6 billion malware threats, in addition to detecting and blocking upward of 35.7 billion phishing and other malicious emails.

Furthermore, more than 35 ransomware strains are actively being monitored by Microsoft Security. The platform is also keeping tabs on 250 unique threat actors “across observed nation-state, ransomware, and criminal activities.”

Its technology allows Microsoft to block more than 900 brute force password theft attempts, which are attempted every single second, so don’t forget to reinforce your passwords.

The importance of adequate security measures pertaining to passwords shouldn’t be understated. We’ve recently seen some of the world’s largest corporations being infiltrated solely due to weak passwords. Microsoft stressed, however, that technology in and of itself can simply not handle the threat of cybercrime without additional assistance.

“Technology is critical, but it’s the combination of leading technologies, comprehensive threat intelligence, and highly skilled people that makes for a truly effective security posture. The challenge is that in this critical moment when cybersecurity has reached an inflection point, our nation is facing a cybersecurity talent shortage…”

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