Cyber Security Facts: Statistics Every Business Needs to Know

It’s time to get the facts straight. 2017 was a tough year for consumers and businesses alike in relation to data breaches. From the Equifax, Yahoo and Deloitte data breach and the NotPetya and WannaCry malware attacks, there wasn’t much room left for breathing. It’s time to start thinking seriously about data security.

Cyber Security Facts: Statistics Every Business Needs to Know

This post highlights top cyber security facts and statistics that will put reality into perspective and encourage you to start playing the cyber safe game.

Don’t Be Alarmed

  1. Cyber hackers attack every 39 seconds on the internet.
  2. In 2016, around 1 in 3 Americans suffered data loss out of 1 billion compromised records and accounts.
  3. A global study revealed, it takes companies an average of 191 days to detect a malicious or criminal attack in their system.
  4. The top cyber security concerns in 2016 were social engineering, insider threats and advanced persistent threats (APTs).
  5. Only 38% of companies believe they are prepared to handle a sophisticated cyber attack.
  6. In Ponemon Institute’s 2017 Data Breach Study, the average size of a data breach increased by 1.8%.
  7. Cyber Security Venture’s predicts that at least 75% of the world’s population could be impacted by cyber attacks

Cyber Costs

  1. Cyber crime will cost businesses $6 trillion annually by 2021. It’s time to develop that incident response plan. According to Cyber Security Venture’s Cybercrime Report, this cost represented the largest transfer of economic wealth in history, and it even surpasses the illegal drug trade.
  2. By 2020, the average cost of a data breach will exceed $150 million with the interconnection of internet of things (IoT).
  3. Cyber attacks will extend to a 6 billion attack surface by 2022. The number of impacted people is increasing quickly every year as more individuals become connected to the internet..

Small Business Statistics

  1. 43% of cyber attacks target small businesses.
  2. Only 14% of small businesses believe strongly in their ability to mitigate cyber risks, vulnerabilities and attacks.
  3. Small businesses reported that only 38% regularly update their software solutions.
  4. Only 51% of small businesses are allocating a budget to cyber security.
  5. 60% of small businesses go out of business within 6 months of experiencing a cyber attack.

Insider Threat Statistics

  1. 40% of companies expect a data breach to come from a malicious insider.
  2. 47% of companies identified the root cause of a data breach was due to a malicious insider or criminal attack.
  3. In Verizon’s 2017 Data Breach Investigations Report (DBIR), internal actors were behind 25% of the breaches studied in the report.
  4. 1 in 14 users were tricked into following a link within a phishing email or opening an attachment. (2017 Data Breach Investigations Report)

Take the time and effort to call you senior staff into a meeting to start devising an incident response plan. Being aware and prepared for a potential data attack is the best step you can take in this data-driven world.

READ MORE:
Takeaways on Data Protection and Insider Threats from Verizon’s 2017 Report
Gartner Predictions for 2018 and Beyond: Analyzing the Research Report
Takeaways on Protenus Healthcare Breach Reports: Insider Threats & Data Extortion
Types of Cyber Security Threats and What You Can Do About Them

Megan Thudium

Megan Thudium

Megan Thudium is a Berlin-based writer with a passion for curating actionable and enlightening content for business leaders. A seasoned author, her latest works encompass topics in travel, business and information security. Follow Megan on twitter @megan_thudium.

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