Only 38% of organizations today believe that they are adequately prepared for a cyber attack. Though most business owners are aware that cyber crime is a common problem, many of them simply haven't taken the steps to create a comprehensive disaster strategy or upgrade their security technology. Here are some eye-opening cyber security statistics that will show you just how critical cyber security is to businesses of all sizes.
Our Top 5 Cyber Security Statistics
1. The Average Cost of a Data Breach is $4 Million (IBM)
The average cost of a data breach has risen year-over-year from $3.8 million to $4 million. Further, the cost of each individual stolen record has increased from $154 to $158. This highlights not only the cost of each individual data breach but also the necessity of catching these data breaches as quickly as possible.
2. Ransomware Has Increased By 35% (Symantec)
Ransomware is able to use encryption against a company, by holding its data hostage until the ransom is paid -- and small-to-midsized businesses are one of their preferred targets. Ransomware has existed for decades but is becoming more popular now that organizations rely upon their data for their day-to-day business operations. To protect yourself against ransomware, you need to have reliable backups and comprehensive threat detection.
3. 31% of Data Breaches Are Due to Mistakes Rather than Malice (Kroll)
It's well known within the IT industry that the vast majority of data breaches and cyber attacks occur due to employee mistakes. But you may not be aware that 31% of data breaches are solely due to mistakes and employee error, rather than any malice involved or crime being committed. Organizations have to take action to protect themselves against their most visible risk: their own employees.
4. 37% of Bots Can Pass Security Challenges (Incapsula)
DDoS attacks are an aggressive attack that is frequently used to take an application or a service down entirely. Though apps and websites may attempt to use security challenges to defeat these bots, over a third of the bots used in DDoS attacks are able to counter these challenges. In addition to the costs of business disruption, a DDoS attack can also hurt a company's reputation. Small and medium-sized businesses are particularly vulnerable as they may not have the server resources to turn aside such an attack.
5. A Single Computer Virus Can Cost Up to $38.5 Billion in Damages (Heimdal Security)
Viruses are still a significant threat to both businesses and individuals. In 2004, the computer virus MyDoom was able to cause nearly $40 billion in damages across the globe -- and viruses have become only more sophisticated since then.
Business owners today have to be proactive about their cyber security -- but that can be a challenge when resources are spread thin. Outsourced IT solutions are often preferable to an internal IT department, as outsourced teams have the experience and the technology necessary to protect a business from even the most advanced threats.
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