Cybercrime is a rapidly growing industry that continues to evolve driven by new technology, and further monetization of the internet. With the global cost of cybercrime estimated at US$7.08 trillion in 2022, it is clear that it poses a significant threat. The barrier to entry is low, and law enforcement faces constant challenges in bringing cybercriminals to justice. Many people are unprepared to face digital threats, and the opportunities for cybercrime loom large over both consumers and businesses. This has led to an increasing demand for greater protection and transparency in data transmission. Many threats, especially web threats, continue to slip through the cracks despite advances in digital security products and services.
In order to address these threats, there is a need for shifts in technology that align with the everyday risk users face when sharing personal data with websites and apps. Security vendors and Internet Service Providers (ISPs) need to focus on protecting trust itself and developing products and services that secure the precise moments a user takes action based on an online trust relationship. One approach to this is to block malicious or suspicious domains at the Domain Name System (DNS) level, in partnership with security vendors, ISPs, and telecommunications or communications service providers (TELCOs).
Despite a decrease in potential web threats, certain types of threats such as phishing continue to be prevalent. In addition, legitimate websites are increasingly being compromised and used to host malware. IoT devices, such as smart devices, are also vulnerable to cyberattacks due to weak security measures and limited on-device security features. Botnets, created by compromising IoT devices, pose a significant threat, and DNS-level protection is highly effective against these attacks.
Routers, as the foundation of the connected home, also face security implications, and poor security measures can put all devices on a network at risk. Using strong passwords and updating firmware are simple steps that can greatly enhance router security and protect against potential cyberattacks.