As cyber attacks and data breaches become increasingly common, it’s more important than ever to protect your business and personal devices from growing threats.
Just like many businesses and homes have alarm systems to protect from intruders, the same prevention is necessary to ward off cybercrime. Let’s dig into what cybersecurity is and why it’s so important.
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What is Cybersecurity?
At its core, cybersecurity is protection against digital attacks. Cybersecurity methods protect against the multitudes of digital threats that come to individuals and businesses. The Department of Homeland Security says it best: “Our daily life, economic vitality, and national security depend on a stable, safe, and resilient cyberspace.”
The need for cybersecurity is fueled by the threat of hackers that compromise important data and systems. However, not all hackers are created equal.
Types of Hackers
- White hat hacker. These hackers are legal professionals that break into protected systems to test their security. White hat hackers, or “ethical” hackers detect vulnerabilities in networks and systems to expose them before malicious hackers do.
- Black hat hacker. Black hat hackers maliciously break into computer networks and security protocols to spread malware, steal data, modify it, or destroy it.
- Grey hat hackers. Like white hat hackers, grey hat hackers expose vulnerabilities in systems and report issues to the owners. However, similar to black hat hackers, this type of hacking is illegal because permission was never given. Grey hat hackers often request a fee to fix the issues they find.
Black hat hackers pose the largest threat to digital networks and systems. Not only do they break into networks and systems – they’ve created common attacks like phishing, ransomware, and crypto jacking.
Need help taking the first steps towards securing your devices? Learn more about the different solutions you can implement as a first barrier.
The world of digital security is continuously changing and evolving, making it important to understand the current landscape to protect your devices from malware. To help illustrate the current state of cybersecurity, we’re sharing 21 eye-opening statistics.
Listen to the story of a user who caught a thief with his Mac at a cafe! (Dramatized from the original).
Now for the part you’ve been waiting for… 30 cybersecurity statistics for 2020:
- 59% of companies in the US/UK reported third-party data breaches but only 35% rate their third-party risk management as highly efficient. (AON)
- Data breaches increased by 160% from 2006 to 2019 (Bluefin)
- By 2020, the number of passwords used by humans and machines worldwide is estimated to grow to 300 billion. (SC Media)
- 43 percent of cyber attacks are aimed at small businesses. (Small Business Trends)
- 230,000 new malware samples are produced every day — and this is predicted to only keep growing. (Panda Security)
- 90% of hackers cover their tracks by using encryption. (Vanson Bourne)
- It takes most companies over six months, or around 197 days to detect a data breach. (ZD Net)
- Windows is the most targeted platform by hackers; Android is number two. (Computer World)
- There were over 3 million crypto-jacking hits between January and May 2018. (Quick Heal)
- The number of mobile crypto-jacking malware variants grew from 8 variants in 2017 to 25 variants by May 2018 – making a 3x increase. (Quick Heal)
- 56 percent of respondents expect privileged user abuse to increase in the next 12 to 24 months, a significant increase from 44 percent of respondents in the 2011 research. (Ponemon)
- The average data breach in 2019 impacted 25,575 records. (IBM)
- The information security market is expected to grow to 289.9 billion by 2026, driven in part by spending on consultation and implementation services related to the European Union’s (EU’s) General Data Protection Regulation (GDPR) and other privacy legislation. (Fortune Business)
- Healthcare breaches had the highest cost of any industry, coming in at 65% higher than any other industry. (Ponemon)
- The total cost of a successful cyber attack is over $5 million, or $301 per employee. (Ponemon)
- The most expensive component of a cyber attack is information loss, which represents 43 percent of costs. (Accenture)
- Damage related to cybercrime is projected to hit $6 trillion annually by 2021. (CyberSecurity Ventures)
- The Equifax breach cost the company over $4 billion in total. (Time)
- Malware and web-based attacks are the two most costly attack types — companies spent an average of US $2.4 million in defense. (Accenture)
- The average data breach cost was 3.92 million in 2019 (1.5% more than 2018). (IBM)
- More than 4,000 ransomware attacks occur every day. (FBI)
- 75% of organizations infected with ransomware were running up-to-date endpoint protection. (Sophos)
- The global damage costs connected with ransomware attacks is estimated to reach $11.5 billion in 2019. (Cybersecurity Ventures)
- It is estimated there will be a ransomware attack on businesses every 14 seconds by the end of 2019, and every 11 seconds in 2021. This does not include attacks on individuals, which occurs even more frequently than businesses. (Cybersecurity Ventures)
- 91% of cyberattacks begin with a spear-phishing email, which is commonly used to infect organizations with ransomware.. (KnowBe4)
- In a survey of over 1,300 IT decision-makers, 56% of organizations identified targeted phishing attacks as their biggest current cybersecurity threat. (CyberArk)
- 76% of businesses reported being a victim of a phishing attack in the last year. (Wombat Security)
- Verizon reports that users in the U.S open 30 percent of phishing all emails, with 12 percent of those targeted by these emails clicking on the infected links or attachments. (Verizon)
- Kaspersky’s Anti-Phishing system was triggered 482 million times in 2018. The security company states that this was a 2x increase over 236 million in 2017. (Kaspersky)
- The financial sector was especially targeted during 2018. 44% of detected attacks were on the banking, payment system, and online shop industries. (Kaspersky)
Understanding the state of cybersecurity is important to protect yourself, your family, and your businesses from digital threats. The statistics we’ve shared show that even though many individuals and companies are aware of cyber threats, their protection is failing due to the continued expansion of attacks.
So what can you do to protect your devices from cybercrime? The first steps are staying educated on current threats and investing in device security. Use the statistics we’ve shared to plan how you will prevent the growing number of threats in 2020.