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Top 7 cybersecurity facts

Oct 25, 2022 | News

TOP 7 CYBERSECURITY FACTS

 

Cybercrime is on the rise, and the latest 2022 Cybersecurity facts and findings prove it. But this should be no surprise; it seems at every turn we’re hearing about another ransomware attack, disrupted operation, or security breach. Even the Whitehouse is issuing warnings about increased cyber threats as a result of recent global events.

Businesses need to be more diligent than ever when it comes to cybersecurity. To better understand the precautions you can take to secure your organization’s networks, it’s important to first know what you’re up against. So we’ve compiled the most common facts about cybersecurity — statistics that may surprise you.

  1. SMBs are almost as likely as large corporations to experience a data breach

In the past, small businesses didn’t have to worry as much as larger corporations. Not so anymore, according to the latest Verizon 2021 Data Breach Investigations Report. The big victims are often small businesses that lack the people and resources to mitigate the risks of a cyberattack.

  1. The number of monthly phishing attacks has doubled in two years, from about 40,000 in May 2020 to more than 100,000 in April 2022. Phishers targeted over 2,000 businesses and organizations during the 1 May 2021 to 30 April 2022 period.

Email continues to be the number one access point for cybercriminals. Phishing is an example of the most frequent and dangerous cyber attacks affecting both individuals and businesses all over the world. The global pandemic, the urge to work from home, and the rapid development of online services have become excellent opportunities for hackers to steal priceless data. Let’s find out what can be done to increase the level of security and avoid phishing soon.

  1. 3 out of 4 organizations fell victim to a ransomware attack, up 61% from 2020

As reported by Mimecast, 64% of those organizations paid the ransom, but four in 10 never recovered their data. Ransomware takes hold of networks and restricts access to files, often demanding payment in exchange for restoring systems, and threatening to destroy them if the ransom isn’t paid.

  1. Employees who do not follow guidelines have become the top barrier to IT security (28%)

As reported by Untangle’s 2021 SMB IT Security Report, this phenomenon was only worsened by the increase in remote workers due to the pandemic. Many employees aren’t familiar with using VPNs, opening the door to unauthorized network access and other risks. Since many organizations report the continuation of remote work for at least a portion of their workforces, these types of human error incidents are expected to rise.

  1. In the last year, the FBI reported a 137% increase in losses due to tech support fraud

Victims of tech support fraud unknowingly provide sensitive data to someone posing as technical or customer support/service. This statistic emphasizes the importance of vetting supply chain vendors and working with service providers you know and trust.

  1. 82% of organizations say that they increased cybersecurity budgets over the past year

One of the top drivers of IT spending in organizations continues to be security and risk management. These funds account for up to 15% of total IT spending, according to Accenture’s State of cybersecurity resilience 2021 report. Company leaders must be the driving force behind cybersecurity initiatives and make it a priority within their organizations.

  1. In the United States, data breaches cost more than anywhere else in the world, with the average attack costing $4.24 million

According to IBM’s latest Cost of Data Breach Report, the average total cost of a data breach increased by nearly 10% since last year. That’s the biggest single-year jump in the last seven years. Organizations with a more mature security posture fared better than those who lag. What is often immeasurable is the damage caused by a tarnished brand reputation and diminished customer loyalty.