With worldwide cybercrime damages expected to cost up to $10.5 trillion per year by 2025, avoiding the avalanche is a matter of gathering the proper data and acting swiftly. Given the ever-changing threat landscape, it’s critical to understand how cyber attacks are evolving and how to effectively protect your business.
Here are six cyber crime statistics that will convince you to invest in protecting your business online. Some of the statistics are truly shocking!
How Cyber Attacks Start
Human error is responsible for 95 percent of all data breaches.  Luckily, organizations can use a privileged access manager to prevent unauthorized access to admin systems, which lessens the risk.
On average only 5% of users protect their company and personal data folders properly.
The FBI has reported a 300 percent increase in reported cybercrimes since COVID-19 and an increase in staff working from home.
It is estimated that around 75% of all cyber attacks start with an email.Â
73% of all users recycle their passwords – they use the same password for more than one application. It is not very difficult for a cyber criminal to work out the patterns of these passwords.
The Most Valuable Information Cyber Criminals are after
Cyber attackers are not always looking for immediate financial gain.
Did you know that 17% of cyber-attacks are seeking Customer information and 12% are looking for Financial data?
The most used Attack Formats
Phishing amounts to 22% with Malware at 20%. There are literally thousands of Cyber Threats and Risks.Â
Hackers attack systems with thousands of different tools and strategies. There are over 100,000 known computer viruses, for example, and thousands more are created every day.
The Size and Magnitude of Cyber Crime
For those breaches that have been reported an estimated 36 billion records were compromised in the first half of 2020.
6.4 billion fake emails are sent around the world daily.
The Cost of Cyber Crime
The illegal drug trade has always been profitable, did you know the numbers show that cybercrime is swiftly catching up. It’s predicted that in 2021, 2 out of 3 cyber attacks will be undetectable without human involvement.
According to McAfee, cybercrime costs the global economy more than $1 trillion. This equates to about 1% of the world GDP.
Small Businesses are Great Targets
The abundance of ransomware news stories may easily convince you to feel that you aren’t worth a cyber criminal’s attention unless you have a lot of data and a lot of money. That isn’t the case at all. Here’s a quick breakdown of what cybercriminals are truly after—and why small businesses are the target of 58% of today’s cyberattacks.
Only 14% of small organizations claim to have highly effective cyberattack mitigation procedures.
Hunting down malware and attackers in your company network is super important. Check it out for additional cyber protections for commercial cybersecurity solutions
You Can’t Go It Alone
To survive in today’s digital society, businesses must collaborate with a security partner and incorporate risk management into their business operations. Aside from simply protecting your business online, the modern business challenge is to find ways to secure, support, and grow your organization while dealing with continuous information and cybersecurity issues.
Still, believe that cyber crooks aren’t interested in your small business? Cyber crime statistics paint a different picture. Your reputation is vital to running a successful business, regardless of how much data you have. Cyber thieves can extort money from your company, creating far more damage than even the largest ransomware settlement could.
