- FinCEN reported 1,489 incidents of ransomware totaling close to $1.2 billion in 2021, a value that has doubled from 2020
- Key industries experiencing a high need for cybersecurity solutions include fintech, biotech, healthcare, manufacturing, legal defense, and technology services
- The global healthcare cybersecurity market is expected to reach $57.25 billion by 2030, growing at a CAGR of 16.3% from 2021 to 2030
- SMBs have experienced an increase in cybersecurity threats due to remote-based work and in-office workers depending on cloud-based solutions, mobile devices, software applications, and third-party suppliers to conduct business
- SideChannel’s goal is to make cybersecurity simple and accessible, offering a wide range of solutions to identify, evaluate, and tackle risks
In the United States, financial institutions are required to file suspicious activity reports to help the government detect money laundering or other criminal activities – including security breaches. The Financial Crimes Enforcement Network’s (FinCEN) analysis indicates that ransomware continues to pose a significant threat to the United States critical infrastructure sectors, businesses, and the public. In 2021, financial institutions filed 1,489 incidents related to ransomware – nearly $1.2 billion in likely ransomware-related payments, more than double the amount from 2020. According to FinCEN, the amounts within its analysis include extortion amounts, attempted transactions, and payments that were not made (https://ibn.fm/Jz58w).
SideChannel (OTCQB: SDCH) simplifies cybersecurity for mid-market companies. The company’s mission is to make cybersecurity simple and accessible, based on a belief that small and mid-sized organizations (“SMBs”) deserve the expertise of an experienced Chief Information Security Officer (“CISO”) just as…
NOTE TO INVESTORS: The latest news and updates relating to SDCH are available in the company’s newsroom at https://ibn.fm/SDCH
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