Cybersecurity Statistics That Worry the Experts

We don’t mean to scare you, but if the most recent cybersecurity statistics are to be believed, your business is in serious danger of being hacked. 

And soon.  

Okay, so maybe we mean to scare you a little bit – but that doesn’t mean that the risk of cybercrime is any less legitimate. See for yourself: according to the EMPIST experts, these are the most worrying cybersecurity statistics for 2022.  

Businesses Suffered 50% More Cyberattacks per Week in 2021 Than in 2020

According to a recent study conducted by Check Point Research, businesses of all shapes and sizes experienced on average 50% more attempted attacks per week on their networks than last year. This trend peaked at a staggering average of 925 weekly attacks in Q4. This kind of cybersecurity statistic is particularly concerning to professionals because it indicates not only an increase in the amount of cybercrime but an increase in their efficacy as well. Remember, those crimes that we detect only scratch the surface of possible threats.  

Cybercrime Alone is Expected to Cost Businesses $10.5 Trillion Annually by 2025 

Apart from the jaw-dropping price tag, this cybersecurity statistic uncovered by Cybersecurity Ventures is concerning because it suggests that the already-high costs of dealing with data breaches, ransomware, and other types of cybercrime show absolutely no signs of stopping. In fact, the same study reveals that cybercrime cost businesses only $3 trillion annually as of 2015. That’s an increase of about 250% in just ten years!  

An Organization Suffered a Ransomware Attack Every 11 Seconds in 2021 

What’s more, the folks at Cybersecurity Ventures predict that number to rise to a new attack on a consumer or business every 2 seconds by 2031. With its particularly devastating nature, this increase in the rate of ransomware attacks should concern both corporations and citizens alike.  For example, just last year, the folks at Colonial Pipeline paid $4.3 million in bitcoin in a ransomware attack. A large portion of the sum is yet to be recovered to this day. 

66% of Small & Medium Businesses (SMBs) Experienced One Serious Cyber Incident in the Last 2 Years 

According to Mastercard, over half of Small & Medium Businesses (SMBs) have fallen victim to a noteworthy cyber incident since 2019. Cybersecurity statistics like this remind us that it isn’t just large companies or government organizations that are at risk of crime – it’s the little guy, too. What’s more, it’s suggested that 60% of small businesses who experience a cyberattack will go out of businesses within 6 months of the event. 

Only 18% of CEOs Say that Cybercrime Will Be the Biggest Threat to Their Growth Through 2024 

A survey of 500 leading CEOs conducted by KPMG reveals that industry professionals aren’t as in tune with their cybersecurity needs as we would hope. Considering the weight of the cybersecurity statistics above, it is abundantly clear that the current rate of cybercrime has the power to arrest a significant amount of growth, no matter a business’s size or station. 

By 2023 There Will Be 3x As Many Connected Devices As There Are Humans  

In 2020, Cisco reported that the number of devices currently accessing the internet is expected to rise almost exponentially. As the number of endpoints connected to your network increases, so too will the number of access points cybercriminals are able to target. Are you currently keeping track of the amount of endpoints within your technology ecosystem? If not, the efficacy of your cybersecurity could be in jeopardy. 

MFA May Only Be Effective as Little as 50% of the Time 

While we still highly recommend that Multi-Factor Authentication be turned enabled on all of your accounts, all of the time, new research suggests that MFA may only be about 50% effective when it comes to thwarting cyberattacks. Without a comprehensive, proactive cybersecurity system in place, MFA will not be able to keep your business safe alone. Proper password management, active threat hunting, and well thought out attack protocol are also necessary. 

There Are More Than 1900 Hacking Groups Active Today 

And that doesn’t even account for those who work alone! Unified hacking organizations pose a significant security risk to the safety and well-being of organizations both large and small.  

39% of Security Technology Used by Businesses Today is Outdated According to Cisco 

Outdated technology puts your business at risk of attack. Maintaining legacy software like antivirus when more effective solutions like EDR are available leaves your team vulnerable, your data unprotected, and your bottom line at risk.  

Only 10% of the Cyberattacks Committed are Actually  Ever Reported 

Be it out of shame or fear, businesses today still vastly underreport their experiences with cybercrime. As such, we are able to assume that many if not all of the cybersecurity statistics above have the potential to be even more concerning than they appear right now.  

Numbers Don’t Lie 

But cybercriminals will.  

Staying ahead of the threat of cyberattacks requires more than committing a few shocking cybersecurity statistics to memory. An effective cybersecurity program consists of smart solutions backed by meaningful research and implemented by a team of experts who understand the ins and outs of your business.  

Such programs may be difficult to build, but they just so happen to be our specialty. 

To learn more about EMPIST’s cybersecurity solutions, visit us online today!