On April 28, 2022, Massy Stores in Trinidad suffered a cyberattack which resulted in the closure of 23 branches, impacting thousands of customers in Trinidad, and costing the company a few million dollars in lost sales. Worldwide, the retail sector consistently ranks as one of the most vulnerable when it comes to cyber-attacks and it is easy to understand why. Cyber criminals are targeting personal information and payment data because that is where the money resides. Stolen payment data can be used to make purchases of goods, or sold on the dark web. Those who commit identity theft can use stolen personal information to apply for credit, file taxes, get medical services, or execute other types of financial crimes.  Retailers seek to boost sales and improve efficiency by using the latest modern data technologies. Additionally, many retailers are diversifying into the pharmacy businesses, and as such, are in possession of more sensitive data than ever before. The pandemic has also accelerated the rise of online shopping and the shift to digital payments.

Hackers have found a significant cash cow in targeting critical infrastructure. These attacks have the potential to spark mayhem in people's lives, leading to product shortages, higher prices and more. The greater the disruption, the greater the likelihood that companies will pay to alleviate it.

In most developing countries, critical infrastructure sectors are more vulnerable to cyber-attacks, natural disasters or human error and has become most vulnerable to attack. In the Pwn2Own Miami hacking event which took place on April 19-22, 2022, two Dutch hackers Daan Keuper and Thijs Alkemade, showed just how easy it is to target critical infrastructure, and took home the biggest prize of the event - $40,000 - for hacking OPC UA, a communications protocol commonly used by industrial companies.  "In industrial control systems, there is still so much low-hanging fruit," Keuper said. "The security is lagging behind badly."

We are now at the beginning of the 4th industrial revolution (Industry 4.0), which is a fusion of artificial intelligence, machine learning, big data, the Internet of Things (IoT), digitisation, and more. Cybercrime will become a number one issue in the emerging Industry 4.0 world of smart everything, and cybersecurity will play a crucial role in safeguarding Industry 4.0. It is estimated that more than 90% of cybersecurity issues originate from human error within the organisation, not externally. Thus, organisations are encouraged to increase cybersecurity awareness, education, and training among the ‘organisation's first line of defense,' i.e., employees. 

According to a report from the International Information System Security Certification Consortium (ISC)2, the USA added more than 250,000 people to the cyber workforce between 2020 and 2021. Yet in 2021, the need for cybersecurity professionals increased by 30%. Also, (ISC)2 found that there are about 400,000 open cybersecurity roles in the USA and about 2.7 million unfilled cyber jobs globally. To fill this severe shortage gap, universities have been working to expand cybersecurity degree and certification programmes. Yet some experts say more is needed with demand as high.

In the Caribbean, The University of Trinidad and Tobago (UTT) successfully started a fully accredited Master of Science (M.Sc.) in Cybersecurity programme in 2019, the first of its kind in the English-speaking Caribbean. The M.Sc. in Cybersecurity offers two options or specialisations: Hacking and Cybercrime Investigation (a more technically focused track), and Cybersecurity Management, Law and Policy, focusing on the other areas of cybersecurity. This programme seeks to prepare students to prevent, counter and recover from cybercrimes and cyber-attacks.

Professor Yufei Wu
Programme Leader,
UTT's Centre for Information and Communication Technology.