Cybersecurity in the Czech Republic is developing more and more day by day. As of 2019, 87% of all Czech households have internet access according to Eurostat. At the same time, the Czech Republic has one of the highest internet consumption rates in Central Europe: about 75% of the citizens use the internet on a daily basis. In 2018, the country introduced the “Digital Czech Republic” document which governs digital interactions both within the Czech Republic and in connection to the European Union. The aim of the program is to prepare all public and private sectors of the country for rapid digitalization. In such an environment, cybersecurity is essential for ensuring the secure, authentic, and private operation of all digital practices.
Cybersecurity During the Pandemic: Why Cybersecurity in 2021 Will Matter the Most?
Cyber-threats are a very current problem with over 445 million cyberattacks reported in 2020 alone. The pandemic is partially to blame for that: people spend more time online rather than outside and attackers see it as an attractive opportunity to profit. As a result, the number of attacks is about twice higher in 2020 as it was in 2019. According to the Arkose Labs network, in the first quarter of 2020 “26.5% of all transactions were fraud and abuse attempts”. The country which saw the most attacks was the United States, followed by the United Kingdom and Germany.
According to Help Net Security, these were the industries most hit by cyber-attacks:
- Retail and travel – mainly in the forms of attacks on e-commerce firms
- IT – mainly in the forms of attacks on tech platforms
- Gaming – mainly in the forms of fraud
It is also worth noting that cyber-attacks are adapting to peoples’ changing online preferences. As such, in 2020, one of the most famous cyber attacks happened on the Zoom app. Outsiders were hijacking Zoom conferences, screenshotting private conversations, and showing hateful images. This event became famously known as Zoombombing. In addition to that, in 2020, 50.000 Zoom passwords were stolen and forwarded for sale on Darknet.
50.000 Zoom passwords were stolen and forwarded for sale on Darknet in 2020
Similarly, over this year, about 25,000 email passwords of those battling the COVID-19 pandemic were leaked. Targeted groups included employees of such institutions as the WHO and the US Centers for Disease Control and Prevention (CDC). In response, the WHO said that they will be switching their system with the compromised information to a more reliable and secure one.
The economic unpredictability, further restrictions, and financial struggles will almost certainly push cyber-crimes further in the first quarter of 2021. In these unprecedented times, cybersecurity companies are needed more than ever to stabilize the digital environment. Since the demand creates its own supply, cyber-security companies are likely to hit the right opportunity for growth and expansion by offering effective security solutions for their customers.
What are Some of the Cybersecurity Products/Services?
RSAC Conference
Cybersecurity has a wide range of products and services, which are constantly being renewed and adapted. Cybersecurity products aim to prevent and minimize the harm done by the attacks – yet, to this day, there is not a single product that can make a system completely invulnerable to external threats.
In 2017, the research by Joe Howard identified as many as seventy different categories of security products, which included cloud security, big data security, fraud prevention, mobile data protection, and many others. The RSAC conference 2020 – one of the biggest events for the introduction of new cybersecurity products – saw some of the new great innovations in the sphere. As such, among the presented offers were 42crunch, which promises the most sophisticated API Security currently available, and Cyberint, which detects threats in the organizations’ systems.
Cybersecurity services mostly exist for organizations. They are offered in the form of audits, where the full digital environment of the company is checked and assessed, vulnerability scanning, and organization-specific web security solutions.
What is the Czech Cybersecurity Environment Like?
While the Czech Republic is gradually moving towards increasing digitalization with more sensitive information available online through Citizen’s Portal, such as extracts from the Trade Register and Insolvency Register, the cybersecurity segment is also expanding.
In 2015, an act on national cybersecurity was approved, which governs and supports both private and public cybersecurity processes. In 2020, the Cybersecurity Council passed the National Cyber and Information Security Research and Development Plan 2020. Under this plan, cybersecurity research and development goals are defined and set. Furthermore, the Czech Republic also has a Cybersecurity Innovation Hub – a non-profit organization that brings together a wide range of research institutes and private companies, as well as governmental institutions to solve cybersecurity problems.
The Czech Republic among the 20 countries which spend the highest percentage of their GDP on technological innovations, including cyber-security services and e-government.
Every year, the Czech government increases the spendings on cybersecurity, which amounted to around 1,944 million EUR in 2017 according to a report by Eurostat. In 2018, the Economist Intelligence Unit ranked the Czech Republic among the 20 countries which spend the highest percentage of their GDP on technological innovations, including cyber-security services and e-government. The country also received the highest score among the Eastern European countries for technological preparedness. Apart from that, the Czech Republic’s government constantly stresses the importance of cybersecurity, forcing citizens to pay higher attention to different levels of digital protection.
Czechia received the highest score among the Eastern European countries for technological preparedness.
The healthcare sector is especially closely monitored with regards to cybersecurity – in 2019-2020, there were several attacks on health institutions. They forced the government to closely look at the security options for this industry as these incidents proved that cyberattacks cause a big disruption to the functioning of the Czech health system.
Cybersecurity Companies in Czechia
Avast is one of the biggest Czech cybersecurity software companies in Europe and in the world. In 2020, it was included in the Cybercrime magazine’s guide for 150 top cybersecurity companies. Avast monthly prevents over 1.5 billion attacks on 400 million unique devices and remains the biggest cybersecurity company in the Czech Republic. Established in 1988, Avast currently enjoys total assets at the value of US$2.865
Anect is another company that provides cybersecurity companies and products. They have businesses in cities around the Czech Republic and they also supply services to countries like the US, Slovakia, Germany, China, and others. Their Security Operations Centre works to monitor, prevent, and solve cybersecurity issues.
TrustPort works to protect the data of its users through their sophisticated antiviruses and anti-spam methods, as well as encryption mechanisms. Their network security uses modern AI technology and their products have been tested by many independent labs, receiving multiple awards.
The full list of cybersecurity companies working in the Czech Republic can be found here.
Conclusion
While more and more businesses became affected by the pandemic, cybersecurity established itself as a growing and promising sector almost everywhere in the world. In the Czech Republic, there are already a few known leaders in this niche, but there are still a lot of economic and research incentives to invest in this segment. It is important not to miss the momentum of the increasing digitalization of the world and the issues that come along with it by preparing to solve them. Contact YeYe Agency to discuss opportunities for expansion in this segment.
If you want to establish your cyber-security company in Czechia, how can we support you;
- Establishing your company
- Supporting you in the incentives procedures and asking for funds
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