In 2020, it was determined that cyberattacks were the fifth biggest risk across both public and private sectors. This risky industry will continue to grow in 2023, as IoT cyberattacks alone are anticipated to double by 2025. The World Economic Forum’s 2020 Global Risk Report indicated that only 0.05% of cyberattacks were detected or prosecuted in the U.S.
The risk of detection or prosecution, on the other hand, has been assessed as low. 2020 brought about several changes, to say the least. If anything, the pandemic amplified cybercrime as a result of the uncertainty regarding remote working and how to safeguard their businesses. This includes theft, embezzlement, data theft, and data destruction. Here we will discuss the latest statistics for 2023. Let’s dive in!
Businesses can suffer significant losses from cybercrime. In 2021, the worldwide average cost of a data breach was $4.24 million and $9.05 million in the United States. These expenses include detecting and addressing the breach, downtime and profits lost, and long-term reputation damage to a firm and its brand. Damaged PII, for example, may cause customers to lose trust, be penalized by regulators, and even be prosecuted by the law.
Not only that, but it’s important to secure your and your family’s data from being pocketed by online scams. The amount of trouble it is to fix such an issue will make the research worth every second.
Among financial institutions, energy companies, government offices, IT firms, and other organizations, it was found that 93% had vulnerabilities. On average, a hacker can penetrate a company’s internal network in just two days.
By the end of this year, there will be one ransomware attack every 11 seconds, up 20% from last year’s estimate of 14 attacks per second, according to CyberSecurity Ventures’ prior research.
NFTs are becoming increasingly popular. The NFT digital marketplace has grown to an estimated $22 billion by 2021, and it is disrupting the art world. However, theft of NFTs is expected to increase over the next few years. In spite of reports of $7 million being stolen from OpenSea users in a recent phishing attack, NFTs are still popular.
Software Supply in Trouble?
According to a survey, 82% of companies in 2021 seemed unprepared for software supply chain attacks, which have increased 650% over the previous five years. One of the problems was that 76% of companies provided account takeover roles, and the worst part was that over 90% of security teams that were designated had no clue that such permissions were even given.
Bots, Bots, and More Bots
According to Spamhaus reports, botnets have become a popular cyber weapon, accounting for 31% of all corporate cyberattacks. Botnets have become so popular that new botnet servers are appearing every quarter, according to Spamhaus. Because a network of 30,000 bots can generate up to $26,000 a month, it’s not surprising that botnets have become a favorite cyber weapon of malicious scammers.
In terms of global corporate network attacks, Trickbot currently makes up 11% of the total. First developed in 2016, Trickbot is a banking Trojan that steals money by exploiting webinjects in international banks. In addition to stealing Bitcoin wallets, Trickbot can also steal money from them.
In 2019, just 64% of all cyberattacks were distributed via email. In 2021, however, over 84% of all cyberattacks were distributed via email, indicating a sharp rise. As a growing number of individuals access email using their mobile phones, hackers will likely exploit this attack vector even more as we go through the year and beyond
Of all the sectors under assault, Education and Research were the most frequently attacked, with an average of 1,605 assaults weekly. Government and Military was the second most focused sector, with an average of 1,136 assaults weekly.
According to Cybersecurity Ventures, cryptocurrency crime will rise to $30 billion by 2025, up from $17.5 billion in 2021. A token called SQUID recently stole $3.38 million from crypto investors, according to the BBC.
It’s crucial for organizations to adjust to the ever-changing hazard environment as these numbers demonstrate. Whether you’re concerned about botnets, supply-chain attacks, or data leaks, you must examine your security procedures in 2023 to survive and succeed moving forward.