World Wide Web is currently connecting nearly 2 billion websites and it is almost unimaginable it’s expansion starting from the year of 1989. The World Wide Web is responsible for breaking down the barriers of cost and time that it took to connect one person with someone who’s in a long-distance away. Now the whole globe is like a small village and it feels that way when we sit in front of a computer.
Joining social media is easier than ever before. This is why so many people around the world are joining social media platforms. It is estimated that a person joins a social media platform for every 15 seconds. There are already billions of social media accounts on different social media platforms.
The Internet is responsible for many technological signs of progress in many fields and it is expanding further with every passing day.
However, every good thing comes with a cost, whether significant or insignificant. And that cost is security and personal privacy concerns. With the advancements of technology, physical threats have evolved to cyber threats.
Cyber threats or cyber crimes as some may say is an all-time high as the moment of speaking. In 2019 Juniper Research, came to the conclusion that trillions of dollars got lost because of cybercrimes.
Hackers can use malware, spyware, and many other methods to steal company data such as bank account details, employee’s personal data, business owner’s personal data, tax account data. These data can be used to commit tax fraud, credit card fraud, health insurance fraud. These details can be used to steal intellectual property rights and patented information.
Because of these kinds of financial and privacy concerns, companies are investing more and more on cybersecurity and employed personal training to educate them about scams, ransomware attacks, data corruption, etc.
It is estimated that global spending on cybersecurity and defense against cyber crimes will reach 10 billion us dollars by the year 2027.
These are some cyber security statistics that you may find enlightening.
1. Half of all cyber attacks were carried out against small-time businesses.
Small business owners are either not convinced enough to pay attention to cybersecurity or they are simply ignorant. Sometimes they are concerned about expenses, so they try to cut around the edges, and cybersecurity is often belonged to this ” not so important to spend money on” list of expenses.
This is why these small businesses are the perfect target.
This article further mentioned that cybercriminals are specifically targeting these small companies because they seem like easy targets. Some businesses were driven to the verge of bankruptcy. These small businesses are often seen as easy targets because they are running with a small staff and fewer resources than massive corporations. The Fox Business News article further pointed out that 43% of cyber attacks that happened in 2015 were carried out against businesses with less than 250 employees. US Congress’ Committee on Small Business also considers this issue as a top priority.
Juniper research article pointed out that though small businesses face more cyber attacks, only a small percentage of them spend a significant amount to enhance their cyber defenses. Small businesses represent 13% of the entire cybersecurity market and more importantly, they invest less than 500 dollars in cyber defense.
According to the chief of the Internet Crime Complaint Center of FBI, the total amount of cybercrimes reported only represents 10% – 12% of the actual amount of crimes that happen within a year.
It is noteworthy to point out that the U.S.A is one of the leading countries in the field of Information Technology and many services related to the Internet. So, think about all the other countries that are still emerging in the field with the masses still learning to deal with the ropes.
The main reason for cybercrimes to go unreported is because of the technical difficulties that people face when they have to prove that a crime actually happened. Sometimes it is very difficult to get yourself to seek professional help as the cybercriminal is having access to your intimate information that they could use against you to cause reputational harm or personal goodwill harm. These are a few of the leading reasons for cybercrimes never get reported.
3. People do not use VPN
It is far easier to stay anonymous online compared to real-life situations. Any person can use a VPN (Virtual Private Network) to hide their location and identity. A VPN encrypts all the online traffic to make sure that it is impossible to track a person’s online activities.
More on VPN’s in here
4. Using Bitcoin transactions to fund illegal activities
Bitcoins is undoubtedly an amazing system of digital currency. The main reason it lures people to use it is because of the anonymity, safety, reduced transaction times, freedom from governmental artificially regulated currency rates. Yet, these very advantages have become an advantage to provide finances for illegal activities.
Bitcoins payments are accepted by weapon dealers, drug dealers, human traffickers, and terrorist groups as the transactions are almost untraceable due to the anonymity it offers.
The University of Sydney in Australia pointed out that 76 billion US dollars amount equals the entire illegal markets for drug dealings in the United States and Europe Union.
5. Trillions of dollars go to waste per year
In Juniper Research article, they mentioned that in the year 2019 alone, 2 trillion US dollars were lost due to cybercrimes targeting companies, corporations, and people.
Forbes estimates that this amount will rise to 6 trillion US dollars by 2021. And in other words, cyber crimes will account for more financial losses than all-natural disasters in a year. This amount also surpasses the global trade of all illegal drugs.
6.Ransomware attack happen in every 14 seconds
According to the 2019 Official Annual Cybercrime Report, more and more businesses will fall for ransomware attacks more frequently. A ransomware attack will happen in every 14 seconds.
7. By 2024 Cyber Security market will be 300 billion US dollars
In the year 2019, Global Market Insights indicated that it is anticipated by the year 2024 that the cybersecurity market will be a 300 billion US dollar industry. As a matter of fact, this amount can be even higher with the advancement of technology.
There are much information and cybersecurity products available online at reasonable prices and sometimes as fermium products. Yet some of these can be actually trojan software
You can read about our recommendations here
8. You can become a hacker with literally no money.
There are many hacking tools, tool kits, and software bundles provided for absolutely free of charge. Some of the information packages that teaches a user to become a hacker are having a low starting price as little as 1 US dollar.
It is best to mention that there are tools, tool kits, and software products that could cost you even thousands of dollars, though most of these software products do have a free of charge clone which is replicating the same functionality without making a hole in your pocket.
This is why these cyber secrity statistics show a massive increase of attacks in the last couple of years as even a not so tech savy user can launch a cyberattack with the use of correct tools.
9. It takes 5 to 10 minutes to hack an Internet-oriented Technology Device
NETSCOUT pointed out that IoT devices could be attacked easily within the first five minutes of connecting to the internet. Any person can hack an IoT device if they have the right tools and software products in their possession.
10. The largest DDoS attack ever happened
NETSCOUT Threat Intelligence Report mentioned that the largest DDoS attack on record was a 1.7 terabytes per second reflection targeting a US company.
11. Symantec’s report on malicious emails
Symantec’s ISTR 2019 report mentions that public administration organizations receive many malicious emails as frequently as one malicious email per every 302 emails they receive.
With proper training and information products, these kinds of traps can be avoided far more efficiently.
12. Even billion-dollar companies are not safe
Back in August of 2013, 3 billion Yahoo accounts got hacked.
Another 500 million Yahoo accounts got hacked in late 2014.
500 million Marriot accounts got hacked from 2014 to 2018.
360 million accounts of MySpace got hacked in May 2016.
145 million eBay accounts got hacked in May of 2014
100 million LinkedIn accounts got hacked in June of 2012.
77 million Sony Playstation Network accounts got hacked in April of 2011.
65 million Tumblr accounts got hacked in February of 2013.
57 million Uber accounts got hacked in late 2016.
50 million Facebook accounts got hacked in July of 2017.
How to protect ourselves from Cyber threats?
Cyber Security Statistics like this paints a grim picture of our digital life. The internet connects us all and provides us a big advantage over traditional communication, but every good come with a cost, atleast in this case. This is why we must take precausions to protect ourselves and our digital devices from cybercriminals.
The best way to protect a computer or a mobile device is installing an antivirus guard software. A good password manager and a VPN software to encrypt your connection helps you to keep the threats at bay. There are so many cybersecurity products in the market and its best to get an idea about what we are dealing with and whether the specific product is suitable for our needs before spending your hard earned money on something that fails to deliver the promised performance or features.
This is why we review products, to help you to choose the correct software product that suits your needs. With cyber security statistics like this, we cannot just ignore the threats we are facing in our day to day life.