Startling Cybersecurity Statistics for 2023 You Need to Know

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As the internet continues to evolve, many people use it for different purposes. Some internet users steal data, wrongfully exploit it, maliciously attack it, and cause problems for others. So, we must follow security measures driven by current cybersecurity statistics to stay protected online.

Cybersecurity defends computer systems, servers, electronic systems, networks, mobile devices, and data from cyberattacks and malicious software. It helps individuals and businesses protect vital information from cyberattacks. Over the years, reports have been made of the heightened rate of cyber threats, especially to companies. Statistics show that 88% of security threats occur due to human error, which results from ignorance of data security and cyber threats.

Therefore, businesses of every size and scale should fully equip themselves to face cyber threats and protect themselves against these attacks. Providing adequate data security and training to today’s workforce can help abort cyber threats. In some organizations, some employees have access to over 12,000 files, making them vulnerable to data network breaches. Given the magnitude of these threats, we have compiled essential cybersecurity statistics to inform you about online security.

Key Cybersecurity Statistics

• The damage caused by Cybercrimes globally is expected to reach $10.5 trillion per year by 2025.
• In 2022, global organizations detected 493.33 million ransomware attacks.
• The most applied cyber-attack technique globally is phishing, with about 3.4 billion emails sent and received every day.
• Data shows that 2,2200 cyber-attacks occurred every day in 2022.
• In 2022, 800,944 cybercrimes were reported.
• Only about 5% of company folders had adequate protection from threats.
• An enormous 60% of organizations need more governance and oversight within their security front.
• Microsoft successfully mitigated an average of 1,435 daily DDoS attacks in 2022.
• Due to the issue of data breaches, 51% of companies have made plans to increase their security spending.
• It can take up to 277 days to discover, identify, and contain data breaches.

Important Cybersecurity Statistics

1. The Damage Caused by Cybercrimes Globally is Expected to Reach $10.5 Trillion Annually by 2025.

Cyber threats cause organizations and individuals to lose money. The potential damages include financial costs, data recovery costs, productivity costs, and downtime costs. Recent predictions show that the global figure of damages caused by cybercrimes is estimated to reach $8 trillion. The yearly growth rate of cyber threats is 15%. Hence, the expected global estimation for damages due to cyber threats by 2025 is $10.5 trillion.

2. In 2022, Global Organizations Detected 493.33 Million Ransomware Attacks.

According to SonicWall’s cyber security threat report for 2023, experts discovered $493.3 million in ransomware attempts in 2022. This showed a decline in ransomware attacks in 2022 compared to 2020 and 2021, when there was a ransomware surge. Despite the decline, it is still essential to be aware of these insider threats and implement protective measures for the future.

3. The Most Applied Cyber-Attack Technique Globally is Phishing, With About 3.4 Billion Emails Sent and Received Daily.

Phishing refers to attacks that come through fraudulent emails or text messages designed to deceive users into downloading malware. Bad players use this attack to perpetrate identity theft and other malicious activities. Nearly 3.4 billion spam emails are received daily, accounting for many phishing attacks. Phishing aims to gain access to a person’s system without permission to steal sensitive and confidential data.

4. Data Shows That 2,200 Cyber Attacks Occurred Every Day in 2022.

According to Statistics, an attack from a hacker comes in every 39 seconds, which proves the above statistics about the daily cyber-attacks in 2022.

5. In 2022, 800,944 Cybercrimes Were Reported.

According to the data in the FBI Internet Crime Report of 2022, there were about 800,944 cybercrime threat complaints in 2022. According to the report, this value represents a 5% decline from the 2021 records. However, the potential losses outweighed that of 2021 by $3.3 billion. The potential losses recorded in 2021 were $6.9 billion. This figure will now rise to $10.2 billion in 2022.

6. According to Data, Only About 5% of Company Folders Had Adequate Protection From Threats.

Statistics show that 95% of company folders are unsecured and are highly vulnerable to threats or data loss. Only 5% of the company network folders have adequate protection against threats. As stated earlier, some employees have access to so many company folders, leaving critical company data exposed to criminals’ activities.

7. An Enormous 60% of Organizations Need More Governance and Oversight Within Their Security Front.

So many organizations do not have much structure regarding their data network and security. This is a wake-up call to organizations to embrace tighter cyber security measures. The number of organizations still in the dark concerning the trends in cyber threats and cyber security is too high at 60%.

8. Microsoft Successfully Mitigated An Average of 1,435 Daily DDoS Attacks in 2022.

DDoS attack is an acronym for Distributed Denial of Service attack, which refers to an attempt to disrupt the regular traffic of its target’s server. It could also disrupt the traffic of its network or service by frustrating its target with a high flood of traffic from the internet. Microsoft reduced about 1,435 daily DDoS attacks on average in 2022, which signifies success in fighting off cyber threats.

9. Due to Data Breaches, 51% of Companies Have Made Plans to Increase Their Security Spending.

The 2023 IBM Cost of a Data Breach Report data revealed that 51% of organizations plan to increase their cyber security budget because of a breach in their network. This budget will cover employee training, Incident response, planning, and testing. It will also handle the purchase of tools for response and threat detection.

10. It Can Take Up To 277 Days to Discover, Identify, and Contain Data Breaches.

Data breaches are so devastating that it could take a company an average of 277 days to identify and contain. 277 days is around nine months, about 75% of the year. That is a dangerous time for a company to remain helpless in the hands of its cyber attackers. This much time is capable of crippling a business.

11. Organizations With Fewer Than 50 Employees With a Specific Budget For Cybersecurity Are Only 8%.

More than half of Small and medium-sized enterprises do not work with a budget for cybersecurity. These SMEs are businesses with less than 50. Most of these businesses are aware of the significant threats to their security. They also know that the pandemic caused an increase in their vulnerability to cyber-attacks. However, most still need to be more adequately protected and prepared to handle these issues. As data security issues have increased, SMEs worldwide will likely top their budget on data security solutions. The budget is expected to grow from $46 billion to $72 billion by 2026.

12. 60% of Businesses Do Not Survive Above Six Months After a Cyberattack.

Research has shown that about 60% of businesses file for bankruptcy within six months of experiencing a cyber-attack. Small businesses struggle today because they lack money to secure their networks and need more funds to recoup. The cost of setting up cyber security and recovering from a data breach will only increase in the years to come.

13. About 28% of Companies Applied AI Security Comprehensively For Cybersecurity.

AI has advanced beyond writing improvement solutions, art generation tools, or marketing tools to become useful in cyber security. AI plays a significant role in cyber security by helping investigate, prioritize, and report high-fidelity security alerts. It performs these functions based on the credibility, relevance, and seriousness of risks in systems and networks. Despite all these, only about 28% of companies have adopted it as a cybersecurity solution.

14. About 300,000 Malware Events Occur Every Day.

Data reveals that between 2022 and 2023, 300,000 different malware events take place daily. 92% of these malware instances are spread through email, and it takes an average of 49 days to be detected. The principal activity that hackers carry out with malware is identity theft, which becomes more accessible if they can gain access to your systems. Also, they gain access to enable them to gain unauthorized access to networks, databases, or information that could be useful to them.

15. In 2021, 6 Ransomware Groups Breached and Destabilized 292 Organization’s Data.

When hackers stage a ransomware attack, they get hold of a company’s data and restrict access until the firm pays a ransom. These hackers could either erase or sell the data on non-compliance with the company. According to the eSentire Ransomware Report, these groups earned at least $45 million from these incidents.

16. In 2021, Hackers Breached More Than 50 Million Healthcare Records.

There is a greater need for more proactive measures to ensure proper patient privacy monitoring. Threats are much more intrusive these days than in the past and can be from several sources. A review of the significant healthcare data breach in 2021 showed that in about two-thirds of the attacks, the breached data was found in one or multiple network servers. A sophisticated hacker can gain access through a random, unsuspecting employee.

17. Arkose Labs Network Documented the Highest Online Fraud Attacks on Their Company in 2020.

Due to the global pandemic called COVID-19, the first quarter of 2020 was a period of heightened online fraud and data breaches. Arkose Labs network noted that 26.5% of all their transactions were attempts to defraud and abuse them. An increase in the rate of remote work and telehealth services sprang up, accelerated by the COVID-19 pandemic. This brings about a need for increased cybersecurity measures to protect patient privacy.

18. Small and Medium Businesses Lose Over $2.2 Million Yearly to Cyberattacks.

Cyberattacks cost businesses a lot. Most small businesses can’t afford an adequate cybersecurity solution, so they often fall prey to hackers. Their various issues might lead them to close down as data recovery solutions are also expensive.

19. The Healthcare Industry is At High Risk of Cyber Attacks.

The healthcare industry recorded about 100 million cyber breaches in a year, which is surprisingly very high. Financial institutions would have been the most targeted. Although financial services are the second most targeted industry, manufacturing comes next. For cyber attackers, the more customer data there is the more revenue potential.

Other Statistics

Here are some Cyber security statistics about Industries:

Healthcare

20. A data breach in the healthcare sector in 2022 cost an average of $10.10 million.

21. In the first quarter of 2022, ransomware attackers caused about 125 breaches in the healthcare sector.

22. Over 1.9 million cyberattacks have been launched in the healthcare sector.

Education 

23. In the last months of 2022, there were about 7.2 million registered cases of malware.

24. A report by IBM on the Security Cost of a Data Breach showed that the cost of a data breach in the education sector was $3.86 million.

25. Nine hackers from Iran launched a massive cyberattack on more than 300 universities worldwide in March 2018.

Finance

26. Cybercrime-related issues cost the financial services sector $18.3 million in 2018.

27. The Trojan horse virus Ramnit attacked the banking sector, resulting in 53% of the cyberattacks in 2017.

Small Businesses

28. Human errors have contributed to nearly 52% of confirmed cyberattacks on small businesses.

29. In 2022, there were about 35,400,000 cyberattacks on small businesses.

30. Only 26% of small businesses place the highest importance on cybersecurity.

Government

31. In 2019, the US government invested about $15 billion, which indicated an increase in their spending on cybersecurity by 4% from the previous year.

32. Industry experts explained that the American government lost around $13.7 billion to cyberattacks in 2018.

Conclusion

Cybersecurity is securing computer systems, servers, electronic systems, networks, mobile devices, and data from cyberattacks and their malicious software. Cyber threats occur daily, putting businesses at risk of data loss and account takeover. 

Knowing that 60% of businesses do not recover from a cyberattack, more businesses have planned to increase their budget on cyber security. Also, we may want to treat cyber security as a serious matter, considering that it can take up to 277 days to discover, identify, and contain data breaches. This time duration is long enough for a business to wind up. Your best bet would be to train your staff on cyber security practices to stay ahead of cyberattacks in the rapidly developing world of cyber threats. Always ensure to backup data as recovery after a data breach is usually expensive. 

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