Cybersecurity Stats for Every Industry, from Healthcare to Manufacturing
Cybercrime is a growing problem for organizations and individuals, as evidenced by the alarming cybersecurity stats. In fact, it’s estimated that cybercrime costs the global economy $600 billion annually. But what does this mean for you? How can you best mitigate your risk? And how can you get started with cybersecurity?
The Cybersecurity Problem
Cybercrime is on the rise. The cost of cybercrime can be costly, both in terms of money and reputation. You need to protect your data and protect your reputation because they’re two things that are closely linked: if hackers steal your customer data, they can use it to engage in identity theft or fraud; if hackers are able to access sensitive employee information such as Social Security numbers or birthdates–which they often do via phishing scams–they may be able to blackmail employees into disclosing company secrets or even stealing intellectual property for themselves.
In addition, there are other reasons why businesses should care about protecting their customers’ privacy: if a customer finds out that she’s being tracked by her favorite coffee shop chain or hotel every time she visits one of those locations (which happens quite often), then she might start going elsewhere instead–and if enough people do this on an ongoing basis dueling over who gets their business first will result in lost sales for all involved parties!
The number of cybercrimes in the US is on the rise. According to the FBI’s Internet Crime Complaint Center (IC3), In 2022, the IC3 received 800,944 complaints, which is a 5 percent decrease from 2021. However, the potential total loss has grown from $6.9 billion in 2021 to more than $10.2 billion in 2022 — and those are only the ones we know about; many more go unreported because companies don’t want their reputations damaged or don’t want to deal with filing police reports.
What is the Cost of a Data Breach for SMBs?
The cost of a data breach can be significant, but it’s not just about the money. A data breach can also affect your brand reputation and result in lost customers. But there are ways you can mitigate these risks by taking action now:
- If you haven’t already done so, create an incident response plan that includes steps for how to respond if you’re hacked or experience some other kind of security incident (i.e., ransomware). Your plan should include who should be notified and what actions they will take when notified (such as contacting law enforcement).
- Keep up-to-date with patches and updates from vendors such as Adobe or Microsoft; they often release fixes within days after discovering vulnerabilities in their products so make sure you have automatic updates turned on!
- Use strong passwords – don’t use any personal information like birthdays or names in them because these are easily guessed by hackers trying to break into accounts online.”
Ransomware Stats – What You Need to Know
Ransomware is a form of malware that encrypts your data and demands payment to release it. It’s on the rise, with a 300% increase in attacks since 2016. In fact, ransomware was responsible for nearly half of all cyberattacks in 2018–and it’s difficult to detect and prevent because there are so many variations of this type of malware. The average ransomware payment in 2021 increased by 82% year over year to $570,000.
Business Email Compromise – A Threat on the Rise
Business Email Compromise (BEC) is a type of cybercrime where attackers gain access to a company’s email system and use it to trick employees into transferring money or sensitive information. According to the FBI’s Internet Crime Complaint Center (IC3), BEC is one of the most financially damaging types of cybercrime, with losses totaling over $1.8 billion in 2020 alone. In 2021, the IC3 reported that BEC attacks continued to increase, with a total of 19,369 complaints received in the first quarter of the year. In 2022, the IC3 received 21,832 BEC complaints with adjusted losses over $2.7 billion.
These attacks are often sophisticated and difficult to detect, as they can involve the use of social engineering tactics and impersonation of high-level executives or trusted vendors. It is crucial for businesses to implement strong email security measures and provide regular training to employees to help prevent BEC attacks.
Cybersecurity Trends & Predictions
- Cybercrime is on the rise, but you can mitigate your risk
- Ransomware is a major threat, but there are ways to protect against it
- Business Email Compromise will continue to be financially damaging, but there are ways to reduce your risk
- Data breaches are expensive, but you can reduce the cost with the right security measures
Cybercrime is on the rise, but you can mitigate your risk.
You may have heard that cybercrime is on the rise and becoming more common. In fact, it’s a growing problem for all industries.
There are ways to mitigate your risk:
- Keep your software up-to-date. This includes browsers and apps as well as operating systems (OSs). OSs should be updated regularly because they contain patches for vulnerabilities in applications that may allow hackers access to your computer or networked devices through them. For example, if an attacker can find out what version of Windows you are running on your laptop by looking at its settings menu, then they might exploit this vulnerability by sending you malicious software disguised as an email attachment containing an update to fix it!