Sirrus Corp. (“Sirrus” or the “Company”) ( OTC PINK : SRUP ), an emerging cybersecurity solutions provider, is pleased to provide this discussion regarding the current and expected market for proactive and professional cybersecurity solutions within the healthcare sector.
As a direct result of escalating cybersecurity threats, global spending on cybersecurity-related hardware, software, and services is expected to grow from $73.7 billion in 2016 to just over $100 billion in 2020, this according to forecasts from International Data Corporation. Other industry experts have published even higher growth estimates for the cybersecurity sector, some as high as $170 billion in sales by 2020. Within compliance-driven industries, such as healthcare, telecom, government, and financial services, the cost and threat of cybersecurity breeches is even greater.
The healthcare sector is a particularly attractive target for cyber criminals. Healthcare records typically contain credit card data, email addresses, social security numbers, employment information, and medical history records. This protected health information (PHI), much of which will remain valid for many years, can be used by thieves for identity theft and extortion. In most cases, stolen data is sold on the black market to many criminal organizations, who each attempt to use the information for fraudulent purposes.
Healthcare providers also face the very real threat of malicious cyber-attackers targeting their critical data and networks with ransomware. In early 2016, a California hospital was one of the first to publicly acknowledge they had been the hit with a ransomware attack, which forced the hospital to shut down all of its computers and depended on fax machines and paper records for a week. The hospital eventually paid the ransom to the criminals to regain access to their critical patient data. Several other U.S. hospitals and clinics were also targeted in similar attacks.
“Despite the Health Insurance Portability and Accountability Act (HIPAA) regulating the protection and handling of personal health information, the healthcare sector is by far the most vulnerable target for cybercrime in the U.S.,” commented Sirrus Corp. CEO Sparrow Marcioni. “The threat to healthcare is now even greater than in the financial sector which has spent the last decade increasing their level of network protection as cybercriminals’ previous and most obvious primary target.”
Marcioni concluded, “Healthcare sector IT departments and executive boardrooms are now more cybersecurity focused than ever and prepared to do what it takes to protect sensitive patient data and maintain their operational integrity. This means more potential customers and bigger IT budgets for established cybersecurity solutions providers like Sirrus Security.”
Additional information regarding Sirrus Corp. and Sirrus Security can be found at www.sirrussecurity.com.