10 Scary Cybersecurity Stats Just in Time for Halloween

Taylor Karl
10 Scary Cybersecurity Stats Just in Time for Halloween 3206 0

10 Scary Cybersecurity Stats Just in Time for Halloween

Sure, witches and skeletons are scary, but have you ever had your network compromised? The impact could be (cue the lightning strike and dramatic music) ...TERRIFYING. The thought of your organization's data being held for ransom is the type of nightmare scenario that only a Cybersecurity professional could dream up. So in celebration of National Cybersecurity Awareness Month, (and our love of all things that go bump in the night) we present you with 10 scary cybersecurity stats that are certain to make your skin crawl.

1. Human error is consistently the #1 cause of cybersecurity breaches, accounting for 95% of all data breaches.

Organizations have battled human error since welcoming technology into the workplace. Whether employees are ignoring security software updates or falling victim to phishing emails, breaches can evolve from countless avenues due to human error. Eliminating human error completely is impossible which is why it is so critical to consistently encourage employees to remain alert and well versed on cybersecurity protocols.

2. A cyberattack happens every 39 seconds.

A Clark School study at the University of Maryland was the first research study to quantify the near-constant rate of hacker attacks – every 39 seconds on average, affecting one in three Americans every year - and the non-secure usernames and passwords we use that give attackers a higher rate of success. The study also noted that the computers that were monitored were attacked an average of 2,244 times a day!

3. 279 days is the average lifecycle of a breach.

A 2019 report showed that the average lifecycle of a cyber breach is 279 days. With the average data breach cost standing at $2.90 million, one breach has the potential to lose organizations $10,394 on average per day during the 279 days. Training employees on the importance of cybersecurity could prevent critical information from being leaked, as well as save millions of dollars annually.

4. According to cyberattacks statistics, small businesses were the main targets of 43% of cyberattacks.

The SBA released a survey that showed 88% of small business owners felt their businesses were vulnerable to cyber-attacks. This stat can be directly correlated to the rise in the median annual salary for cybersecurity analysts as many small businesses cannot afford to devote funds to their cybersecurity needs. Re-assessing your organization's business risk to educate yourself on the needs is one of the top tips recommended by the SBA and McAfee to understand how to protect your organization from future cyberattacks.

5. Between January and April 2020, cloud-based attacks escalated 630% globally.

Due to COVID-19, many organizations flexed into work-from-home options for employees. During this time, 83% of organizations adopted cloud-based storage in some shape or form, and with this substantial growth in usage come new threats to organizations’ data. Many rely heavily on vendors for cloud storage and each vendor represents a different risk to your organization's data. In a study done regarding cyber security attacks on cloud storage, the IJEIE states that "although a number of solutions are existing that are countering various attacks, there is still a further need to strengthen the security in hosted as well as on-premises cloud, in order to restore the confidence of users."

6. On average, a malware attack on a company cost $2.6 million.

Viruses, Ransomware, scareware, worms, spyware and trojans are some of the most common types of malware used in cyber-attacks. The options for infecting a cloud or computer with malware is almost endless and can be tough to combat. The most common form of malware is Social Engineering which plays on human emotion through phishing emails, instant messages, or social media. Norton recommends keeping your software updated, backing up files regularly, and scanning executable files before running them.

7. This year, the projected global spending for cybersecurity stands at $6 trillion.

This staggering amount represents the greatest transfer of economic wealth in history. Cybercrime will become more profitable than the global trade of all major illegal drugs combined. According to the FBI’s Internet Crime Report, the cost of cybercrimes reached $4.2 billion in the U.S. during the 2020 year alone. As cybercrime becomes the fastest growing crime in the U.S., the increase of cybersecurity job roles will grow exponentially and is expected to continue to rise to 3.5 million unfilled positions by the end of 2021 (2019/2020 Official Annual Cybersecurity Jobs Report).

8. The average ransomware attack costs approximately $1.85 million in downtime.

According to a study by Datto, "downtime costs related to ransomware are on average nearly 50 times greater than the ransom requested." The study also revealed that phishing, poor user practices, and lack of end-user security training are the main culprits of ransomware attacks. Cyberattacks like these can cost organizations millions to even billions of dollars annually if not cut off quickly before they escalate.

9. Over 90% of data breaches and hacks are the result of phishing email scams

As previously mentioned, Social Engineering attacks are the most prominent form of cyberattacks which brings a direct spotlight to phishing emails. Since its first appearance in the 1990’s, email phishing is the most common type of phishing and 9 out 10 successful data breaches are the result of a phishing email. Phishing emails are typically tailored to the individual to attract the highest level of attention and engagement. Training employees on how to recognize a phishing email is critical to helping prevent these attacks on your organization.

10. Cybersecurity Market Forecasted to Be Worth $403B by 2027.

The world is depending on technology more than ever since the global COVID-19 pandemic and the increased need of cybersecurity professionals is growing. Over a 5-year period, the cybersecurity market is forecasted to experience a compound annual growth rate (CAGR) of 12.5% according to BMRC. North America specifically is expected to lead the cybersecurity industry due to the copious amounts of security vendors establishing global and/or regional headquarters in the U.S.

Some Closing Thoughts

You can peek out from under the covers now. We have good news. At United Training, we are on the cutting-edge of cybersecurity with training programs designed to ensure that your organization can best prevent cyber-attacks and, should one occur, significantly reduce your risk and increase your response time. View our entire lineup of Cybersecurity learning solutions.

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