The threat of cyber attacks has existed since data went digital, but it seems as though the significance of cyber security has significantly increased in recent years. So, what exactly is driving this spike in cyber attacks today? Money, according CEO of Evident ID David Thomas.

Inside Counsel sat down with Thomas to explore the evolution of cyber security. Criminals can easily monetize the data they are stealing either by leveraging it themselves for fraudulent activity, or by selling it. Either way, they are getting paid. And, their opportunity is enormous because companies are handling and collecting more and more personal information. A hacker only has to find one vulnerability – one small lapse – and can potentially get access to volumes of sensitive personal data.

“Any security breach should be taken seriously,” he explained. “The potential damage to a business's reputation and credibility with its users is difficult to replace, no matter the scale or depth of a breach.”