As more data is stored digitally, cybersecurity becomes increasingly critical. After all, for customers to put their trust in a company, they need to be assured that their information is well-protected. Let’s dig into some cybersecurity statistics so you can stay informed on this complex and daunting subject.
1. Small-to-medium business experience the highest risk of cyberattack
Because small businesses often have more vulnerabilities than large ones, they tend to be targeted more frequently by hackers. Approximately 58% of malware attack victims fall into the small business category, so if you’re a business owner, this statistic shows why cybersecurity is more important than ever.
2. In 2017 alone, cybercrime cost small and medium businesses more than $2.2 million
Not only do cyberattacks present a threat to privacy and security, but they can be incredibly costly as well. These types of losses could be due to asset damage or disrupted operations, but either way, small-to-medium businesses can be devastated by such losses.
3. Healthcare is the industry most targeted by cybercriminals
Due to the extensive personal information they house, health care systems are most at risk for a cyberattack. Finance, manufacturing, and government follow close behind on this list of highly targeted industry sectors.
4. 92% of malware attacks come through email
We all learned to be suspicious of spam emails decades ago, and our suspicions have been confirmed. Malware is most likely to be delivered to businesses through an email, typically in the form of an attachment. Remember that it’s better to keep a little skepticism when opening emails than to introduce malicious programs to your computer systems.
5. Mobile malware rose 54% in 2017
Cyberattacks aren’t just for desktop computers and laptops. Now, they’re targeting mobile devices as well. Because mobile devices store a wealth of user data and are used more frequently than computers, malware is now being formatted to breach these devices, meaning extra precautions need to be taken to protect phones and tablets.
6. 99.9% of mobile malware is found on third-party app stores
As if we needed a good reason to stick to Google Play and iTunes, here’s perhaps the most compelling. Mobile malware apps are rising as we’ve just seen, and they’re largely found on third-party app stores. Because it’s hard to tell which apps are carrying malicious software, your best bet is to download apps from reputable stores only.
7. A cybersecurity breach occurs, on average, every 39 seconds
When we’re not actively seeing evidence of an attack, it’s easy to become complacent. However, a study performed by the University of Maryland shows that cyberattacks are happening around us at a rate of one every 39 seconds. That’s a sobering fact, and it should remind us to stay vigilant.
8. The U.S. experiences the most data breaches of any other country
With more than 6 billion records stolen since 2013, the U.S. is the biggest global target for cybercrime. This means that U.S.-based businesses should be even more on guard and mindful about building up cyber defenses.
9. In 2017, 76% of organizations reported experiencing a phishing attack
Phishing, which consist of fraudulent emails intended to acquire personal information, is a common cybercrime tactic that often targets average consumers. However, even businesses experience phishing, as is evidenced by this cybersecurity statistic.
10. 77% of cyberattacks in 2017 were fileless
Unlike the many types of malware that attack via a file infecting a system, more and more attacks are going fileless. This means that the malware infects an already-installed application or operating system. It’s a sophisticated technique and one that’s incredibly important to guard against with the proper software.
11. The average cost of a malware attack is $2.4 million
Because of the time that it takes for businesses to identify, diagnose, and repair a malware attack, these incidents can be incredibly expensive, averaging into the millions. For small-to-medium businesses, this can be a huge financial setback. Therefore, investing in cybersecurity is all the more critical.
12. 60% of small companies go out of business within 6 months of a cyberattack
We’ve seen a couple of cybersecurity statistics showing just how costly a malicious cyberattack can be, especially to smaller businesses. Sadly, these attacks can even be fatal. Almost 2/3rds of small companies that experience a security breach will go out of business in under a year, due to the heavy costs they incur.
13. Only 38% of small businesses regularly update their security software
Although cyberattacks can be dangerous and even cause businesses to fail, many small businesses still fail to keep on top of their security measures. By regularly upgrading protective software and keeping abreast of new trends in cybercrime, businesses can prevent disaster from striking.
14. Only 25% of small businesses report having cyber risk insurance
One of the ways small-to-medium businesses can protect their assets and information is through cyber risk insurance. However, 75% of these companies do not have it. Exploring this option may make all the difference if an unfortunate breach does occur.
15. Ransomware attacks are growing more than 350% annually
As technology advances, so do the techniques and abilities of cybercriminals. This is one of the reasons that ransomware attacks continue to grow at such an incredible rate.
16. According to experts, a company’s spending on security be at least 3% of their expenditures
So, with all this talk about the risks of cyber threats, what is to be done about it? Industry experts say that more investments need to be made in security. As a rule of thumb, 3% of your business expenditures should consist of cybersecurity methods, from software to tech upgrades, regular maintenance, and other defenses.
With so many different types and delivery methods, these cybersecurity statistics show that cyberattacks are a growing threat to businesses of every size. However, by taking an offensive stance and making regular advancements to your technology and software, you can stay ahead of cybercrime and protect your company and your customers.