Shocking Cyber Crime Stats That Show the Necessity of Cybersecurity 

Cybersecurity is certainly one of the organisation’s most pivotal areas of focus. Cybercrime is a continually evolving threat, and companies need to ensure that they are keeping up with, and staying ahead of cyber criminals to protect their organisations. 

But, how do you do so? How can you effectively fight this almost never-ending battle against the constant cyber threats and ensure your organisation is kept protected and safe from online threats? We took a look at the main threats that you need to look out for in your organisation and unpacked some startling statistics about cybercrime which will show the necessity of cyber protection in your company. 

Top Cyber Security Risks

Before we kick off with the statistics, let’s take a look at the different types of cyber threats that organisations and individuals need to be aware of:

Phishing 

This is the most common cyber attack. It is the use of fraudulent communication to steal valuable information from the victim. 

Ransomware

This is software introduced into a system which blocks normal functioning. Money is then demanded to have the software removed. 

Malware

Malware is malicious software that aims to create harmful software. This then either blocks the system, corrupts it or steals vital information. 

Man-in-the-middle attacks

These are attacks that take place when the hacker appears in a transaction between two different parties. They can make use of an entry on either side and record the information being shared.

Denial of service attack

Attacks are carried out by several users and devices to essentially flood the systems, servers or networks with traffic that they cannot handle. 

SQL Injection

Hackers will introduce code into a system to force the system to release information it usually wouldn’t, hence compromising its privacy.

Stats To Make Your Skin Crawl

The Chief Information Officers role in a company is to oversee and plan for any attacks. , However, most simply do not know where the next attack would be coming from. 

Key statistics and reports provide more of an insight into what they should be looking out for and what key trends they can protect themselves against.

The Healthcare Industry is the Most at Risk of Attack

Interestingly, out of all industries, including the finance and banking sectors, healthcare finds itself as the top target of cyber criminals. Vital documents and information are stolen and leaked. 

Cybercrime Will Become More Profitable Than Illegal Drugs

It estimated that cybercrime has taken a $6 trillion chunk out of the global pocket. It is currently costing almost $4 trillion in damages. But this number is increasing as  criminals become more and more savvy. 

54% Of Company Breaches Are Due To Employees

One of the biggest risks to an organisation are actually the employees themselves. 

Two types of employees have been identified. 

  • Employees who unwittingly allow a hack to take place by opening a phishing email or following an unsecure link.
  • Employees who conduct the attack themselves. 

In the first instance, organisations are heightening employee awareness surrounding cyber security and providing training education to employees to protect themselves and the company against attacks. 

With regards to internal fraud, organisations lose millions of dollars to in-house company fraud and most of it is done through cyber attacks. The increase of BYOD (bring your own device) has been tipped as one of the biggest threats to organisations worldwide and is not looking like it will be resolved any time soon. 

92% Of All Malware World-Wide Is Delivered By Email 

Malware, together with phishing, is easily spread with the use of emails. Fraudulent emails are getting harder and harder to spot, while spam filters are also becoming easier to overcome as criminals have learnt how to circumnavigate the protection. 

It Takes An Average Of 191 Days For An Organisation To Spot An Attack

Each attack costs an average of $5 million to the company. 

An Attack Happens Every 39 Seconds In The US

61% of companies have admitted that they have been victims of attacks. 

The Bottom Line 

As cybercrime continually evolves, so does the need for organisations to repeatedly strengthen their borders and security. Constant investment and resources need to be dedicated to cybersecurity and education and training needs to be constant to protect the company.