As awareness in the general public has grown, Cyber-crime has become an all too common news topic. In 2014, The New York Times reported over 700 articles on data breaches alone. Cyber-crime can take the form of hacking someone’s personal information, to vicious and slanderous cyber bullying, to identity theft and even website obstruction. Cyber-crime has even overtaken the story arcs of many film and television series. Shows like ‘CSI: Cyber’ have come to exemplify the real life prevalence of our newfound online crime sprees.
As a society of individuals online, we all face the risk of falling victim to a cyber-attack on our personal information. Not only are we personally afraid of such attacks, but businesses also fear such strikes to their online infrastructure. In 2014, the Center for Strategic and International Studies estimated that cyber-crime causes a $455 billion deficit each year in the global economy. This loss can be attributed to resources required to halt the cyber-attack, cost of repairing damage, and loss of sales after private information has been leaked from vulnerable businesses.
Companies are now investing millions into cybersecurity measures to protect their information assets. The global cybersecurity market topped $75 billion in 2015, and is predicted to grow to $170 billion by 2020.* The Global State of Information Security® Survey of 2015 found that businesses doubled information security budgets compared to information technology budgets since 2013. The rise of attacks on retail and consumer companies meant that 38% of those companies increased their security spending by 20%, more than any other industry.
“The demand for security professionals is likely to grow by 53% by 2018.”***
The need for cyber security personnel is growing. A 2015 analysis of numbers from The Bureau of Labor Statistics reported in 2015 that 209,000 cybersecurity jobs in the U.S. were unfilled. There were 74% more job postings in 2015 compared to the previous five years.***
In 2001, the Council of Europe adopted the Convention on Cybercrime to oversee a range of security functions associated with Internet activities on a global scale. Thirty-four countries attended the signing in November 2001, but only twenty-nine nations have ratified it as of April 2010. Even though the United States is not a “member state of the council of Europe,” it ratified the Convention and participates in it.
New England Institute of Technology’s Master’s in Information Technology recognizes the growth of cybercrime and the demand for well-trained cybersecurity professionals. Understanding the latest technology is important to producing the most impervious strongholds for modern websites. NEIT also provides a course dedicated to IT and the Law. Students are introduced to many of the legal and ethical issues that they will face as information technology and security professionals as they wander through cyberspace, protecting it from all who may come to trespass.
Discover more about how New England Institute of Technology helps you become employer ready in this booming area of Information Technology.