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Cybercrime: Is it as bad as they say?

October 11, 2020

It is Cybersecurity Awareness Month and while cybersecurity should always be ‘top of mind’, it is a great time to take a look at some critical statistics to measure the evolving risk landscape, the effects of a tumultuous year, and how cybercrime can impact your business. Below is an overview of some important facts about cybercrime – plus three illuminating bonus statistics that provide insight into important ways to protect your business from cybercrime.

10 Crucial Facts About Cybercrime in 2020

  • In 2020, 80% of firms have seen an increase in cyberattacks
  • A cyberattack is attempted every 39 seconds
  • 700 million people in 21 countries experienced some form of cybercrime
  • The damage related to cybercrime is projected to hit $6 trillion annually by 2021
  • Ransomware attacks rose 148% in March 2020
  • Cloud based attacks rose 630% between January and April 2020
  • Two in five SMBs have been the victim of a ransomware attack
  • More than 80% of reported cyberattacks are phishing
  • Phishing attempts have increased by more than 660% since March 1, 2020
  • Organized crime gangs account for 55% of attacks

Although 2020 has been a banner year for cybercrime, especially ransomware, companies that take smart precautions against cybercrime are experiencing good results. Even companies that just put a few additional provisions in place to fight back against the surge are having success in keeping the bad guys out of their systems and data.

Security awareness training isn’t optional. 90% of incidents that end in a data breach start in a phishing email. With threats coming at your business from every side, including a spate of new vectors for phishing threats, security awareness and phishing resistance training is a must-have for 2021 to reduce your risk of a cybersecurity incident dramatically.

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