Citywire Selector | Welcome to the lose/lose world of cybersecurity attacks

A large unnamed company once boasted to Marco Gercke that its cybersecurity team was successfully batting away hundreds of thousands of cyberattacks every single day.

While commendable, Gercke said the volume is only relevant in the context of whether it is every attack. ‘I didn’t want to embarrass the CEO, but I said to him: “I am not worried about the 100,000 you are blocking – I am worried about the one, two or three you are not”.’

Speaking at Citywire Montreux 2024, Gercke, founder of the Cybercrime Research Institute, said advances in the sophistication of criminal efforts meant that any that slip through the net can have devastating effects.