Eye Opening Cyber Security Statistics

What is the state of cyber security today?

We feel that cyber threats are things that happen to other people, not to us. We have all our passwords in order, and even two-step verification: it can’t be us. We cannot fathom losing our data, our identities, our websites; our everything. The problem is that everyone assumes that they’re safe from threats until they find themselves in the middle of a crisis. Here are some statistics to show you how at risk your business is today.

Small Businesses Are at Risk

Half of all cyber-attacks are aimed at small businesses. They have considerable data but still struggle with adequate resources. Small businesses often cannot invest in effective cyber security infrastructure, and they also lack dedicated staff to do it for them.

Cyber Security Damage Amounts to Trillions

What about the average cyber user? Random cyberattacks amounted to an estimated $6 trillion worth of damages in 2021. There is a lot to be lost after a cyber-attack, from our money to our very identities. Recovering these things costs a lot of money, and that’s if it’s even possible.

Only a Minority of Cyber Crimes Are Reported

Only 10% of cyber-crimes are reported in the US each year. If there is so much to lose, why do people barely report them? The reason behind this is ransomware attacks. Because most ransomware attacks demand less than $1,000, many businesses would rather pay the extortion than deal with the hassle of reporting it to the police. All of this contributes to a climate in which cybercrime instances are underreported. Sadly, ransomware attacks happen every 14 seconds somewhere on the globe.

Cyber Security Attacks Are Evolving

It takes 5 minutes to hack an IoT device. Before, it would take much longer: up to several hours. Nobody should risk exposing themselves to cyber-crimes.

A Very Long Way to Go

With an ever-increasing number of cyber threats, and rapidly developing methods to attack innocent internet users, we need to act fast. The good news is that IT specialists around the world are heeding the call to bring innovation to this field. The cyber security market is already worth a staggering $300 Billion and growing. The more professionals we have tackled these issues, the safer our cyberspaces will be. The more the average user, business person, and student are made aware, the more they will be able to protect themselves.