As we deal with the pandemic, you may miss alarming trends in other areas. One area that should be of concern is cybersecurity. Statistics show the frequency and severity of cyberattacks have increased.1
Do you need to worry? How can you avoid cyberattacks?
LeadingIT compiled these statistics to help organizations understand the problem. LeadingIT provides IT services and support. This article will help you discover seven shocking cybersecurity statistics to keep an eye out for.
Overview Of The Statistics
- Cybercrime losses will cost organizations worldwide trillions per year: Organizations will incur losses through downtime and recovery costs. They may need to slow/close operations to analyze and remedy the situation. Cybersecurity Ventures predicts that cybercrimes costs to organizations will be over $6 trillion per year by 2021.2
- Over 90% of breaches happen via phishing email scams: Employees with access to organizations' networks get emails and open compromised links or attachments, infecting the system. Scammers take advantage of social engineering techniques to trick employees.
For example, they can configure the sender's address to appear like it is management. Man-in-the-middle phishing attacks have increased.3 These scams involve cybercriminals taking over another person's email and sending messages to recipients. Cybercriminals can steal data, do unauthorized configurations, or ransom the organization to forego the access.
- The number of unsecured remote desktop devices increased by over 40%4: Organizations embraced remote work to cope with the pandemic. Most employees use unsecured connections to work, jeopardizing networks they access. Hackers can access their remote gadgets, steal their credentials, and use them to gain unauthorized access. They can also infect their devices with malware that the employees transmit to their organizations' networks.
- People purchased over 530,000 Zoom accounts via the dark web4: Zoom helps organizations enjoy videoconferencing. The increased popularity of the platform resulted in scammers targeting it. One threat is the increase of Zoom bombing, primarily using credentials bought on the dark web. Zoom bombing/raiding involves disruptive intrusions by hackers and internet trolls into an organization's video conference call.
- COVID-19 drives 72–105% ransomware spike: Reports indicate that ransomware samples (captured malicious code and files) increased during the pandemic.5 Organizations face more ransomware threats that can cause disruptions, such as downtimes and ransom demands.
- 94% of malicious executables use anti-malware tactics6: Polymorphic threats comprise almost all malicious executables that Webroot encounters. Traditional cybersecurity programs use identifiers, such as signatures and encryption keys, to detect malware. These threats try to circumvent these cybersecurity protocols by continually changing those identifiable elements. You may be vulnerable if you do not add extra defense layers to your traditional cybersecurity measures.
- 43% of cyberattacks target small businesses7: Cybercriminals target these institutions because they have scarce resources to have extensive cybersecurity protocols and tools. These breaches compound the struggles of these organizations.
Effects Of Cybersecurity Breaches
Your organizations may face these losses if cybercriminals breach your network.
- Financial losses: You may lose money via the amount you will spend to remedy the breach, review the extent of the attacks, ransom payments, and orders you will not fulfill.
- Downtimes: You may close your operations to review and remedy the situation. Cybercriminals may also hold crucial parts of your infrastructure, disrupting your operations.
- Damage to your reputation: Your brand image may suffer if you are a victim of a breach. Stakeholders may hesitate to deal with you, as they fear another breach may compromise your arrangements.
- Data loss: Breaches may result in data loss. You may lose sensitive data, such as confidential bank records, contact information, and addresses. Cybercriminals may auction, publicize, or ransom the information they steal.
How To Avoid These Breaches
Your organization continues to face changing cybersecurity threats. You need to ensure you have comprehensive cybersecurity protocols that will safeguard your IT infrastructure. Train your employees on the risks you face, have a reporting protocol, and revise your measures to reflect the changing threats. You may also work with an IT company you can trust to protect your IT infrastructure.
LeadingIT offers 24/7, all-inclusive, fast, and friendly technology and cybersecurity support for nonprofits, manufacturers, schools, accounting firms, religious organizations, government, and law offices with 10-200 employees across the Chicagoland area.