Every day, the cybersecurity industry is growing rapidly. While more resources are being used to combat cyberattacks, there is still a lot to do before catching these threats.
This article will cover 10 Alarming Cybersecurity Statistics for 2022.
1) 279 days is the average lifecycle of a breach.
This means that it takes 279 days to fix a breach. This means that it takes more than nine months to identify and rectify a data breach. This can lead to massive losses for businesses.
The quicker a breach can be contained, the better. According to IBM and Ponemon Institute, it took an average of 226 days to detect a threat. The average time it took to contain it was only 73 days.
2) A cyber attack happens every 39 seconds.
One of the first studies by the Clark School at the University of Maryland has quantified the rate of hacker attacks on computers with Internet access – every 39 seconds, affecting one-third of Americans each year –and the non-secure usernames or passwords are responsible for the greater success of hackers.
3) 94% of malware attacks are carried out through email
Verizon’s 2019 Data Breach Investigations Report revealed that email is still the most common entry point for malware attacks. After analyzing sufficient data on malware, it was found that email was responsible for more than 90% of all attacks.
4) The average cost of a data breach is $3.9 million globally
Costs of data breaches vary from one country to the next and from one industry to another. This can vary from $1.25 to $8.19 million. According to the latest report, “Cost of a Data Breach,” by IBM and Ponemon Institute, the average data breach cost currently stands $3.9million. This figure shows an increase of 1.5% over the previous year.
5) Per the FBI, there has been a 300% rise in cybercrime following the COVID-19 outbreak.
Hackers took advantage of this opportunity to attack highly vulnerable networks as more employees moved work from their offices to their homes because of COVID-19. The FBI Internet Crime Complaint Center (IC3) noted a rise in cybercrimes since the outbreak of coronavirus.
According to the department’s records, it has been more difficult to detect cyber attacks in 2020 due to the increasing number of complaints every day, approximately 2000 to 3000 per day. Comparatively, the IC3 received 1000 complaints per day before the outbreak.
6) Global spending for cybersecurity is projected to be upwards of $6 trillion in 2022
Cybercrimes are growing rapidly in terms of their size, sophistication, and cost. The U.S. Cybersecurity Ventures calculated that the global crime cost would reach $6 trillion in 2021. This figure is twice the amount reported in 2015 ($3 Trillion), and it’s the largest economic relocation ever recorded. This could put the incentives to invest and innovate at risk, but more profits are likely to be generated.
7) Connected IoT devices are expected to reach 75 billion by 2025
With the rapid growth of IoT devices and apps, the market for IoT is growing. There are currently north of 5 billion people with cloud access, which allows them to store their data on digital devices. Connected IoT devices are expected to reach upwards of 31 billion by 2022, and 75 billion by 2025.
8) Online payment fraud will cause the e-commerce industry $25 billion annual losses by 2024.
This part of internet security statistics is very concerning for the e-commerce sector, which will suffer huge losses from online fraud payments by 2024. This loss is estimated to exceed $25 billion, and the growth rate over the next four years will be 52%. Juniper Research’s “Online Payment Fraud” report, “Online Payment Fraud: Emerging Threats Segment Analysis and Market Forecasts 2020-2024”, confirmed this.
9) Phishing accounts for 80% of reported security incidents.
Phishing is a sophisticated cyber attack that allows threat actors to use email scams and fraudulent websites to obtain personal information. It was responsible for about 80% of security incidents reported, making it the most popular social engineering attack.
To trick recipients, attackers make an email appear genuine and desirable. They direct recipients to click on a link or download an attachment. This type of email could include bank requests or a note from a recipient.
10) Average stock prices fell by 7.27% following a reported breach incident.
Analyzing the closing share price of 28 New York Stock Exchange-listed businesses showed that they fell to their lowest point in nearly 14 days following a breach incident. Their share prices dropped an average of 7.27%. This also translates to a -4.18% NASDAQ performance.
Conclusion
It is important to be aware of the data to help predict cybersecurity trends, especially in this digital age. Many hackers are trying to exploit vulnerable networks, as almost all interactions happen online. It is crucial to stay updated on the latest cyber-attacks and possible sources.
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