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We read and hear a lot about cyber attacks and the latest threats in the news, seemingly daily. When one takes a look at the numbers the real costs to associated with cybercrime become a real eye opener.
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- There are around 3.8 billion Internet users and will grow to an estimated 6 billion by 2020. Each Internet user is seen by cyberthieves as a potential victim.
- Researchers track the quantity of new malware released, with estimates ranging from 300,000 to a million viruses and other malicious software products being created – every day.
- The number of U.S. data breach incidents tracked in 2017 was 1,579. Of those, 21.4 percent involved phishing and 12.4 percent involved ransomware/malware. Unauthorized Access represented nearly 11 percent.
- Nearly 20 percent of data breaches included credit and debit card information. Nearly 158 million Social Security Numbers were exposed.
- Cybercrime is reported to be costing business 600 billion a year. According to CSO, an online magazine for chief security and information officers, cybercrime damage is predicted to reach $6 trillion by 2021.
- The FBI reports $209 million in ransom was paid from ransomware attacks in just the first quarter of 2016, compared to $24 million in ransom payments in all of 2015. Global ransomware damage costs were predicted to exceed $5 billion in 2017.
- Bureau of Justice Statistics (BJS) reports suggest actual losses from identity theft remain relatively small. Only 14% of victims suffered out-of-pocket losses, and of those victims, about half lost $99 or less. The average loss was $1500 per incident.
- The Equifax breach, which exposed the personal data of 143 million US consumers in September 2017, cost the company nearly $90 million in the first four months after discovery.
- Over 40% of US businesses were compromised due to fileless attacks and exploits. The number of fileless attacks are increasing significantly.
Sources:
McAfee CSIS Report: Economic Impact of Cybercrime— No Slowing Down
McAfee Labs Quarterly Threat Report June 2017
Accenture Cost of Cyber Crime Study
Identity Theft Resource Center: 2017 Data Breach Year-End Review