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Cybersecurity is a crucial component of every company’s technological environment. Without it, cyberattacks can damage or destroy businesses by accessing, changing or deleting data. Cybercriminals are also known for demanding hefty ransoms in exchange for unlocking encrypted data.
This is why companies are making cybersecurity their top IT priority. And many small to medium-sized businesses (SMBs) are enlisting the help of knowledgeable Managed IT providers to create and enforce organizational cybersecurity plans. This is a proven way to reduce risks and minimize any potential losses, financial or otherwise.
If you’re wondering why cybersecurity has become such a hot topic, take a look at these five statistics that emphasize the importance of securing your company’s data. We've also outlined these statistics in the helpful infographic, available for download!
Download Now: 5 Cybersecurity Stats About Attacks and Data Breaches
$9.5 Trillion: Annual Cost of Global Cybercrime Damages in 2024
The annual cost of cybercrime damages has been climbing in recent years and is expected to continue to increase. This is due in part to an explosion in mobile, cloud, Internet of Things (IoT) and remote tools that have transformed how businesses access technology. These tools have increased worker productivity and encouraged new business communication methods. However, it has also given cybercriminals new opportunities to launch cyberattacks.
96% of Ransomware Cases Have Included Data Theft
Ransomware is one of the fastest growing trends in malware, but not many people realize how commonplace it actually is. Thousands of attacks occur every day, which makes this a huge threat to any business. In fact, an industry survey found that the median reported ransom demand is approximately $600,000. Could your company survive this?
Don’t make your data look attractive for cybercriminals to steal. Be proactive and defend it by looking for network user anomalies. Because cybercriminals are increasingly turning towards data exfiltration after a data breach. This method is used to increase a cybercriminal’s leverage by stealing data, then extorting it.
Only 54% of Organizations have a Company-Wide Disaster Recovery Plan in Place
Without a disaster recovery plan, many businesses are left floundering. In fact, 60% of SMBs go out of business within six months of becoming a victim of a cyberattack or data breach.
Plan ahead. A disaster recovery plan contains documented step-by-step instructions and protocols designed to minimize disruptions and return operations back to normal as quickly as possible.
The #1 Industry Most Often Attacked by Cybercriminals is Manufacturing
A recent report ranked the manufacturing industry as the most attacked by cybercriminals for the third year in a row. As this industry as a whole is lagging in cybersecurity adoption, many manufacturers have found themselves vulnerable to cyberattacks and data breaches. For manufacturers, downtime can be extremely costly and result in financial losses due to the cost of recovery, supply chain disruptions, legal liabilities, production delays and lost revenue.
More Than 1.7 Billion Individuals Had Personal Data Compromised in 2024
A data breach can damage client trust, especially for healthcare, financial and legal organizations who have access to personal client information. This statistic reveals the dangerous trend that many organizations do not have strong privacy settings and are not up to date on compliance. A cybersecurity breach is often detrimental not only to the business, but to their clients as well.
A proactive approach to cybersecurity is best. That’s why now is the time to take stock of what you have and what you need. For more information, download your free copy of our 5 Cybersecurity Stats infographic.
