Cybercrime Combat: The Unstoppable Challenge for the Security Industry

At the intersection of profit and problem, some of the world's most lucrative products emerge, products that tend to alleviate symptoms rather than solve the underlying issue. In the pharmaceutical industry, for instance, medications are often true blockbusters for manufacturers, though not always for patients. Products that completely eliminate the problem also eliminate demand. An economic incentive for a complete cure seems to be lacking. A similar situation occurs in the cybersecurity sector, which serves as a prime example of a highly lucrative yet often not entirely effective field. Companies and governments are increasingly investing in IT security, yet cybercrime continues to rise. According to the research firm Gartner, global spending on information security is set to increase by 13 percent this year, reaching $184 billion. This funnels enormous profits into the coffers of many cybersecurity firms. Meanwhile, the "speed and severity" of cyberattacks continue to rise, as highlighted by the latest global threat report from CrowdStrike. Ironically, the company itself caused a software glitch in July that incapacitated 8.5 million Windows devices. Various factors contribute to the rise of cybercrime: the techniques and tools available to perpetrators are becoming cheaper and more effective, while digital vulnerabilities are increasing. An alarming new threat is "quishing", in which criminals place fake QR codes on everyday objects to capture victims' data. Humanity has failed to eradicate physical crime for centuries; cybercriminal activities could prove even more tenacious. With an internet connection, potential criminals have global access to a highly effective criminal toolkit. Some states allow gangs to operate with criminal immunity, with countries like Russia and North Korea being particularly prominent. The ability to launder money globally through opaque crypto exchanges also breathes new life into this crime. Emerging nations, including China, are to be taken particularly seriously as threats, according to Christopher Ahlberg of Recorded Future: While Russia is more like a hurricane, China is akin to global warming—a growing, long-term problem. Many companies are strengthening their cybersecurity out of fear, yet protecting all access points is becoming increasingly difficult. "The entire security economy is broken and it's getting worse," says Shlomo Kramer of Cato Networks. Cato Networks focuses on a comprehensive security architecture that combines both network and security services. The race against time to stay ahead of criminal elements remains a central challenge. Although a complete solution to the problem of cybercrime is still a long way off, the services of cybersecurity companies are indispensable for most and still promise rewarding returns for investors.