Cybersecurity is an area of growing concern. The past couple of years, we’ve seen a significant increase in the variety and frequency of cyber threats and organizations are reporting more and more cybersecurity risks within their organizations. Businesses need to prepare their teams for enhanced data security and cybersecurity initiatives. Check out the following cybersecurity facts and statistics to understand the threat landscape for businesses.
Overview: Cybersecurity Trends to Watch For
- According to Microsoft, nearly 80% of nation-state attackers targeted government agencies, thinks tanks and other non-government organizations.
- Microsoft also reports that 58% of cyberattacks from nation states originated in Russia.
- The United States remains the most highly targeted country with 46% of global cyberattacks being directed towards Americans.
- Fraud cases are up 70% since 2020.
- Expect greater governance of cryptocurrencies in the coming years.
- Social media is likely to see enhanced oversight of information.
- Healthcare data breaches cost an average of $10.1 million per incident in 2021.
- More attacks on IoT are expected, making the internet of things an area of interest when it comes to cybersecurity.
- People will be paying extra attention to how they manage their personal data.
- According to PurpleSec, 98% of cybercrime rely on social engineering to accomplish successfully.
Largest Data Breaches and Hacking Statistics
The past year was a busy one for hackers, cybercriminals and cybersecurity experts. Here are the top five cybersecurity breaches of 2022.
- Twitter experienced a data breach that allegedly affected millions across the United States and Europe, but had not been previously reported.
- Carding marketplace Biden Cash released the details of 1.2 million credit cards for free on October 12, 2022.
- Australian telecommunications company Optus suffered a devastating data breach on September 22, 2022 that led to the details of 11 million customers being accessed.
- On November 16, 2022, a hacker posted the data set to BreachForums containing what they claimed to be up-to-date personal information of 487 million WhatsApp users.
- On October 13, 2022, 97 million people’s information was stolen when Australian healthcare and insurance provider Medibank suffered a data leak.
Cybercrime Statistics by Attack Type
Certain types of cyber crime are experiencing rapid surges, according to Security Intelligence.
- Phishing attacks increased by 48% in the first half of 2022, with reports of 11,395 incidents costing businesses a total of $12.3 million.
- Research suggests that up to 40% of cyber threats are now occurring directly through the supply chain.
- Ransomware attacks grew by 41% in 2022 and identification and remediation for a breach took 49 days longer than the average breach.
- As the internet of things (IoT) continues to grow in scope, sophistication and accessibility, it’s becoming an increasingly tempting target for cybercriminals.
Cybersecurity Compliance and Governance Statistics
Compliance and governance is essential if we hope to combat cybercrime.
- CSO Online reports that 66% of companies expect spending to be driven by compliance mandates in the coming year.
- Varonis reports that more than half of companies found over 1,000 files that were accessible by all employees.
Industry-specific Cyber Stats
Tech Business News reports that the top five most targeted industries in 2022 were as follows:
- Healthcare
- Financial services
- Retail
- Education
- Energy and utilities
Security Spending and Cost Stats
The cybersecurity industry is expanding due to increased security threats. The cost of cybersecurity varies significantly depending on the size of your business and the level of security support you are looking to implement. The cost for security services will be largely based on your status as a small business, SMB or enterprises.
- According to leaders such as IBM, your cybersecurity budget should consist of 9-14% of your overall IT budget.
- Statista reports $71.68 billion in IT security spend in 2022.
- Cisco showed that 50% of large enterprises are spending $1 million annually on security.
Cybersecurity Job Statistics
Cybersecurity pros are in high demand. The growth of cybersecurity incidents has led to an increased need for skilled cybersecurity professional.
- In fact, it’s estimated that there will be 3.5 million unfilled cybersecurity jobs by the end of 2025.
- The job market is expected to grow 33% between 2021 and 2031, according to the Bureau of Labor Statistics (BLS).
- The median average wage for a cybersecurity pro is $102,600, according to the BLS.
Related Content: Tough Talk on Cybersecurity
Top Cybersecurity Threats and Trends
Companies are working diligently to ensure they are prepared for anything that comes their way in the future. Expect to see the following.
- Enhanced software supply chain security.
- Ransomware will become more of a problem for businesses.
- Companies are transitioning to a zero trust framework for cybersecurity.
- Increased scrutiny on the cybersecurity measures of third-party providers.
- Rise in cyber insurance to offer further protection for businesses.
Cost of Cybercrime
Cyber crime is a costly expenditure for companies.
- The cost of cyber crime has risen 10% in the past year.
- The average cost of a data breach in the United States in 2022 was $9.44 million, according to IBM data.
- Cybersecurity Ventures predicts cybercrime will cost $10,5 trillion annually by 2025.
How to Protect Yourself From Cyberattacks
Protecting yourself from cyberattacks often involves the right education. As noted above, most cyber incidents evolve by way of human error, not a failing in technology.
- Educate your people: Train your staff to recognize different types of attacks, such as phishing and email scams.
- Enable multifactor authentication: Requiring more robust authentication helps to enhance your security significantly.
- Perform penetration testing: Pen testing allows you to assess the vulnerabilities on your systems so you can appropriately safeguard against weaknesses.
- Monitor threat intelligence: Threat intelligence feeds provide valuable, real-time information on emerging cybersecurity threats and allows for a collaborative approach to incident response.
Cybersecurity Statistics FAQ
What Are the Types of Cyberattacks?
There are several different types of cyber attacks. Here are some of the most common.
- Phishing: Involves sending a fraudulent message in an attempt to get the recipient to provide sensitive information, such as password credentials.
- Malware: Involves using viruses, spyware or other malicious software to steal information.
- Ransomware: Where data is stolen and only released upon payment of ransom. However, this data typically becomes available on the dark web regardless of payment.
- DoS (denial of service)/DDoS (distributed denial of service): Attacks deny access to systems making business inoperable.
How Many Cybersecurity Attacks Are There Per Day?
There are an average of 2,200 incidents per day.
How Frequent Are Cyberattacks?
One study by the University of Maryland indicates that there is a cyber attempt every 39 seconds. That number is almost incomprehensible. Not all of the attempts are successful, but you can be guaranteed that someone at some point in time (or several points in time) has tried to steal your personal information. Unfortunately this problem isn’t going away anytime soon. But fortunately, the cybersecurity industry is growing and learning at the same rate the bad actors are. Do what you can to protect yourself. The cybersecurity market will only grow so make sure you are prepared.
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