Ranked fourteenth in the world economy and fifth in Europe, Spain comes under a high-income mixed capitalist economy.
In this digital age, where businesses and economies operate on a digital platform with all sensitive and confidential data stored online, there is always the risk of hackers attacking the system or a website and demanding a ransom for the data by hacking into the system with ransomware.
Impact of unethical hacking
Cybercrime and online frauds are rising globally, and so are in Spain. As per the latest statistics, more than 50% of organizations came under hackers’ radar and were the victims of cybercrime. Apart from this, cyber attackers successfully managed to attack nine out of ten companies annually.
In 2020, Spain was among the top 3 countries that suffered the most from mobile banking malware.
Your online identity is everything and these hackers aims to steal your identity and siphon off funds from your bank accounts.
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These cyberattacks threaten not only the economy but also a country’s foundation. Every sector, be it defense, education, trade, travel, communication, transport, etc., is dependent on the systems via online servers, making them vulnerable to attacks; nevertheless, they are being guarded by firewalls.
Cyberwar via cyber terrorism is a matter of great concern for all the developed and developing countries worldwide.
How is Spain dealing with Cyberattacks
Hiring Professionals hackers
Owing to the increase in the number of cybercrime, there is a lot at stake for Spain. It allocates more than 12% of its budget on IT security and continuously builds up an army of ethical cyber hackers to defend its servers.
At present, 29000 hackers are on their payroll. However, they are building a roadmap to add another 61000 to safeguard their financial institutions and enterprises through training and creating a secure IT infrastructure.
The attackers continuously refine their attacks with updated versions of viruses, trojans, and malware, which are countered by a team of trained professional hackers who create firewalls to safeguard the system from these attacks.
Developing Training and Research Institutes
Spain has developed there own National Cyber Security strategy and has even created two response teams under the same.
It is investing resources in research and technology to develop tools to strengthen its online system and servers.
All credit to these measures that only 4% of the organizations paid to cyber hackers out of 50% that were attacked.
It is also a member of the fourteen eyes network, where different countries use technical and intelligence resources while helping each other against cyberattacks of any nature.
As a proactive approach, Spain is educating its general public about the danger of cyber attacks and steps to avoid them.
The emphasis is on developing awareness campaigns for businesses, citizens, and professionals in order to reduce the impact of cyberattacks and prepare the next generation to deal with them.