By David J. Rosenthal
Cybercrime is projected to cost the world $10.5 trillion annually by 2025.
According to Cybersecurity Ventures, ransomware (a type of cybercrime) is the fastest growing crime in the U.S.
Cyber attacks are such a rising threat that even U.S. military leaders have to prepare for them. An F-35 fighter jet (also called “The Flying Computer) could more likely be taken out of the sky by these attacks than by a missile!
Businesses are a cyber criminal’s primary target. Some industry experts predict that breaches could create losses of up to five trillion just in the next five years. In 2019 the healthcare industry alone saw losses of up to 25 billion due to ransomware attacks.
Imagine having your own small business and having to face a $100,000 security breach. How about several? If you think that your organization is immune to these attacks, think again. 78% of IT experts lack confidence in their company’s security framework.
The first step to protecting yourself is to know the dire state we are in and realize just how volatile the nature of cybersecurity really is.
- The world faces over 100,000 malicious websites and 10,000 malicious files daily.
- Nearly 3 million dollars is lost to cybercrime every minute.
- Businesses lose approximately $8500 an hour due to ransomware-induced downtime.
- Leading companies pay out $25 a minute due to security breaches.
- 18 million websites are infected with malware each week.
Since the arrival of the Covid pandemic, it has only gotten worse. 350 million in cryptocurrency was paid to ransoms in 2020—an increase of 311% from 2019.
Entire water systems have been poisoned; television stations have been shut down. Even millions of Microsoft clients have been impacted when the zero-day vulnerabilities of their exchange server were exploited.
It is no longer a question of whether or not your business will experience a cyberattack, but a question of when and how severe.
How long will it take to identify and contain a breach when your company experiences one? The average time in 2020 was 280 days.
How protected is your business?
With IT positions rising in demand, it is getting harder for companies to hire the expert staff they need to deal with the meticulous and malicious nature of these attacks, which is why many businesses are outsourcing. If your business does not have a data security plan or you have one that needs updating, then Razor Technology can help.
In the following posts we will be diving into the specific types of cyber threats to your business and what you can do internally to protect yourself.
Forbes: Alarming Cybersecurity Stats: What You Need To Know For 2021 by Chuck Brooks
The Alarming Cybersecurity Statistics for 2021 and the Future by Patricia Stainer.
2021 Cyber Security Statistics by PurpleSec