Cybercrime is on the rise and is expected to cost the world $10.5 trillion annually by 2025, according to a report by Cybersecurity Ventures. Ransomware payments are also expected to exceed $20 billion by 2021. Cyberattacks occur every 39 seconds on average, while the average cost of a data breach is $3.86 million globally. Small businesses are not immune to cyberattacks, and 60% of them close within six months of experiencing one. The dark web is a breeding ground for cybercrime, with cybercriminals using sophisticated tools and techniques to automate their activities. It’s crucial to prioritize cybersecurity and stay informed to prevent cyberattacks and secure sensitive data.
1. Cybercrime is expected to cost the world $10.5 trillion annually by 2025
Cybercrime is one of the fastest-growing criminal activities in the world, and its impact is on the rise. According to a report by Cybersecurity Ventures, cybercrime damages are expected to cost the world $10.5 trillion annually by 2025. This staggering figure is twice the amount of the global cybersecurity market’s size, indicating that the threat from cybercrime is real and growing.
2. Ransomware payments are expected to exceed $20 billion by 2021
Over the past decade, ransomware attacks have increasingly become a popular method for cybercriminals to extort money from their victims. In 2020, it’s estimated that the global ransomware payments amounted to $11.5 billion. Furthermore, cybercrime experts warn that ransomware payments could exceed $20 billion annually by 2021.
3. Cyberattacks occur every 39 seconds
The frequency of cyberattacks is alarming. A recent report by the University of Maryland indicates that cyberattacks occur every 39 seconds on average. This statistic highlights the need for organizations to adopt stringent cybersecurity measures to prevent data breaches and cyberattacks.
4. The average cost of a data breach is $3.86 million
Data breaches have far-reaching consequences, including reputational damage, loss of business, and financial costs. According to a study by the Ponemon Institute, the average cost of a data breach is $3.86 million globally. This figure underscores the need for organizations to prioritize cybersecurity and data protection.
5. Social media is a top target for cybercriminals
Social media platforms have billions of users worldwide and store vast amounts of personal data, making them a prime target for cybercriminals. Cyberattacks on social media include phishing scams, malware attacks, and account takeover attempts.
6. Small businesses are not immune to cyberattacks
Many small businesses believe they are too insignificant to attract the attention of cybercriminals. However, this is a misconception. According to a report by the National Cyber Security Alliance, 60% of small businesses close within six months of experiencing a cyber attack.
7. Cybercrime is increasingly becoming automated
Cybercriminals are employing sophisticated tools and techniques to automate their criminal activities. Automation allows them to carry out cyberattacks at scale, increasing their chances of success. In some cases, cybercriminals have used automation to create botnets, which are networks of infected computers and devices that can be used to launch devastating cyberattacks.
8. Cybercrime has a higher profit margin than drug trafficking
Cybercrime is a more profitable activity than drug trafficking. Cybercriminals can earn millions of dollars with minimal investment and without the risks associated with illegal activities like drug trafficking.
9. Mobile devices are increasingly being targeted by cybercriminals
Mobile devices are now an essential part of our daily lives. However, they have also become a prime target for cybercriminals. Malware attacks on mobile devices are on the rise, and cybercriminals are using new techniques to bypass security measures and steal sensitive data.
10. The dark web is a breeding ground for cybercrime
The dark web is an area of the internet that is not indexed by search engines and is inaccessible through regular internet browsers. It is a breeding ground for cybercrime, providing a platform for cybercriminals to exchange stolen data and carry out illegal activities anonymously. The dark web is a significant threat to cybersecurity, and law enforcement agencies worldwide are working to combat its activities.
In conclusion, cybercrime is a real and growing threat to individuals and organizations worldwide. It’s imperative to implement stringent cybersecurity measures and stay informed of the latest developments and trends to prevent cyberattacks and secure sensitive data effectively.