With your attention on the pandemic and the day to day operations of your business, there may not be a lot of time spent on cybersecurity. However, if you don’t already have a network security plan in place, you may be setting yourself up for a crushing blow to your business. Cybersecurity threats are on the rise and businesses need to be prepared for the worst. Here are some cybersecurity stats that may surprise you.

1. Almost 90% of Cyber Attacks Are Caused By Human Error or Behavior

That stat derived from research by the UK’s Information Commissioner’s Office is shocking but true. Human error is typically to blame for most cybersecurity threats. This is because cybercriminals typically need a way into your business’ network. Hackers gain entry by sourcing and using passwords and user names.

How could you be putting yourself at risk of a cyberattack? It’s easier than you may think. Hackers are becoming increasingly devious and have more subtle tactics of accessing sensitive information. For example, when an employee clicks on a link in a phishing email, or if they carelessly input sensitive login information using wireless platforms, the door opens to cybercrime and cybersecurity threats.

Bonus Stat: 91% of attacks launch with a phishing email.

2. 43% of Cyber-Attacks Target Small Businesses

The odds are not in your favor. Nearly 1 out of 2 small businesses will experience a cyberattack. Many businesses don’t have cybersecurity plans in place. Additionally, those that do have a plan and a training guide, typically don’t train their employees often enough to keep bad habits at bay. Consistent cybersecurity training can be a huge factor in reducing cybercrime and cybersecurity risks.

3. Hackers Attack Every 39 Seconds

According to a Clark School study, hackers attack computers with internet access 2,244 times per day. That’s every 39 seconds, impacting one in three Americans every year. As more businesses flock to the digital marketplace, that number is constantly on the rise. In fact, malware infections have been growing every year since 2009. Credit Purple Sec with the following cybersecurity stats graphic.

purple bar chart showing increases in malware attacks every year for a decade from 2009-current

4. UN Says Cybercrime is up 600% During Pandemic

Just a few months into the COVID-19 pandemic, the FBI reported a 300% increase in cybercrime. As of mid-May, 2020, the UN updated that stat to 600%.

What does this mean for you? It means that cybercriminals are taking advantage of the current crisis. The overarching sectors that are frequently targeted include government, retail and technology. While these are broad categories, specifically those in the healthcare field should be on alert.

5. More than 93% of healthcare organizations have experienced a data breach over the past three years.

Sensitive information is a gold mine to hackers and cybercriminals. With patient data being recorded and stored on remote networks and cloud servers, it’s no surprise that cybercriminals are targeting this field.

Hackers are using the COVID-19 pandemic as an opportunity. Fake phishing emails were frequently sent with the following headlines:

New COVID-19 prevention and treatment information! The attachment contains instructions from the U.S. Department of Health on how to get the vaccine for FREE!

URGENT: COVID-19 ventilators and patient test delivery blocked. Please accept orders here to continue with shipment.

6. The Average Time to Identify a Breach in 2019 Was 206 Days

According to Cybint, it takes roughly 6 months just to detect a data breach. By the time you have figured out that a breach happened, data is already compromised and the damage has already been done.

Cyber threats are not something to be taken lightly. They are sneaky and can expose your business data to your competitors or customer data that you are liable for to the world. What’s worse is that you may not even know until it’s too late.

7. On Average, Only 5% of Companies’ Folders Are Properly Protected

Far too many businesses aren’t protecting their proprietary files from cybercriminals. According to Fundera60% of small businesses that are victims of a cyberattack go out of business within six months. If you don’t want to be a part of these cybersecurity stats, then you might want to undergo a cybersecurity audit. You can read more about the 4 primary steps when performing a network cybersecurity audit here.

Small businesses are not immune to cyberattacks and data breaches, and are often targeted specifically because they often fail to prioritize security. Caught between inadequate consumer solutions and overly complex enterprise software, many small business owners may be inclined to skip cybersecurity. It only takes one attack, however, to bring a business to its knees.”

 -Paul Lipman, CEO of BullGuard

8. By 2020, the Estimated Number of Passwords Used By Humans and Machines Worldwide Will Grow To 300 Billion

This cybersecurity statistic should be no surprise. You can probably count at least 20 different online logins for yourself alone. An increase in user name and password information simply means more opportunities for hackers. If you haven’t already, prepare yourself by performing a cybersecurity assessment. You can view the three primary components of a computer security assessment here.

9. 22% of SMBs Switched to Remote Work without a Cybersecurity Threat Prevention Plan    

 The COVID-19 pandemic forced thousands of businesses and employees to restructure their work environments. Many businesses had to adjust their models for the “covid consumer” and for their employees. One of the most widespread shifts was to have employees work remotely. Considering working from home had its own challenges with operations, time management and productivity, but many businesses made the switch to a digital environment without a cybersecurity plan in place. If you are one of those businesses, the time is now to secure your network!

10. Connected IoT devices will reach 75 billion by 2025

black and white graphic with IoT on it showing an interconnected world of devices

Coupled with the rise of user names and passwords are internet-connected devices. The Internet of Things (IoT) has led to so much improvement and productivity that there is no stop in sight in making the world unified through technology. However, this will inevitably lead to more devices and digital platforms in the workplace and, thus, an increase in cybercrime attempts.

Concerned About Your End-to-End Security?

Next Horizon is a technology company that specializes in cybersecurity for small and mid-size businesses. With many businesses focusing on revenue right now, we don’t want any organization to face a setback due to cybercrime. To that end, we are offering a complimentary IT security assessment that includes a security risk report, consolidated security report card and an external vulnerability scan.

 

Sign Up for a Free Security Audit!

 

Next Horizon provides holistic technology solutions for businesses looking to improve sales, increase agility and optimize productivity. From deploying dedicated development teams to building bespoke business applications, Next Horizon uses its 40+ years of experience and award-winning talent to provide technical business solutions for its clients.

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