Ginni Rometty, IBM’s chairman, president and CEO, said: “Cybercrime is the greatest threat to every company in the world.” And she was right.
The Cyber security industry is at its peak. Even though individuals and businesses are using more and more resources to defend against cyber attacks, the industry is rapidly growing, making it difficult for everyone to keep up with these threats. It’s important for us to define what current information security and cyber security industry looks like considering these alarming 15 Cyber Security Facts and Stats.
1. 95% of breached records came from only three industries in 2016
Government, retail and technology. The reason isn’t necessarily because those industries are less diligent in their protection of customer records. They’re just very popular targets because of the high level of personal identifying information contained in their records.
2. A hacker attacks every 39 seconds
This was verified by a Clark school study at the University of Maryland. The attacks affect 1 in 3 Americans every year. The success of these attacks are down to the weak passwords and usernames we keep.
3. 43% of cyber-attacks target small business
64% of companies have experienced web-based attacks. 62% experienced phishing & social engineering attacks. 59% of companies experienced malicious code and botnets and 51% experienced denial of service attacks.
4. The global average cost of a data breach is $3.9 million across SMBs
Many businesses have been affected financially as well as in their reputation. Public companies are at a higher stake, on average a data breach at a publicly-traded company would cost $116 million.
5. 350% increase in cybercrime during coronavirus COVID-19 pandemic: UN report
A 350% increase in phishing websites was reported in the first quarter of the year, many targeting hospitals and health care systems and hindering their work responding to the COVID-19 pandemic, the UN counterterrorism chief has said.
6. More than 93% of healthcare organizations have experienced a data breach over the past three years
The Herjavec Group, states 57% have had more than five data breaches during the same timeframe.
7. Human intelligence and comprehension is the best defense against phishing attacks
According to Cofense thwarting phishing attempts comes down to user behaviour and understanding is the best way to protect your business against some of the most common hacking methods.
“With the increase of cyberattacks occurring, organizations continue to spend more money on security; however, they often spend it in the wrong areas,” says Dr. Eric Cole, founder and CEO at Secure Anchor, and one of the nation’s top cybersecurity experts. Business needs to make a fundamental change in approach towards cyber security and Plan their budgets according to the modern cyber threats needs
9. Connected IoT devices will reach 75 billion by 2025
The IoT market is due to reach 31 billion connected devices this year in 2020 and by 2025 it will be roughly 75 billion IoT devices.
Cybersecurity Ventures arrived at our original estimation of unfilled positions after reviewing and synthesizing dozens of employment figures from the media, analysts, job boards, vendors, governments, and organizations globally.
11. 90% Of Breaches Are Caused By Human Error
The sudden increase in data breaches is due to Human error. Businesses need a cyber-security training in place to overcome these threats
54% do not test their plans regularly; these can make them less prepared to defend the cyber threats
SME’s gets affected (financially and reputation) , thus it’sp important for small business of all sizes to have security awareness plan and measures in place to monitor any suspicious activity
14. Share prices fall 7.27% on average after a breach
The lowest point occurring up to 14 market days after a breach. Finance and payment companies saw the largest drop in share performance post-breach according to Comparitech.
15. Total cost for cybercrime committed globally will reach $6 trillion by 2021
The biggest myth about cybercrime is that it only affects big companies or celebrities with high income. But the fact is any individuals like you and me who are connected to internet are victims of a cyber attack
So as long as technology continues to evolve, hackers will continue to increase their attacks.The best way to defend against cyber threats is to be aware and learn how to become cyber smart.
Understanding the risks and threats is important for every person and every business across all the industries.
Contact us today to get your cyber security plan