Businesses need to understand the value of cybersecurity if they hope to thrive both now and in the future. That’s because they are currently a major hacker target, with criminals successfully stealing data and compromising the systems of thousands of companies every year.
However, the stories that business leaders read about on the internet can feel quite abstract and distant. Cybercrime, they tell themselves, is something that affects other people, not them.
In this post, we run through a list of facts that should drive the point home that any business can become a victim of an attack. Check them out below:
1. There is a Hacker Attack Every 39 Seconds
According to data, there is a hacker attack every 39 seconds. But what’s so alarming about this statistic is that it came out of a study made in 2003 when the internet was only a fraction of its current size and relatively few firms were online. Hence, the number of attacks occurring today is likely far higher.
2. 43% of Cyber Attacks Target Small Businesses
Small business leaders like to convince themselves that they are not at risk of a hacker attack. But the data suggests otherwise. According to Derek Manky – an IT industry professional – hackers target small businesses 43 percent of the time.
But why is this? It comes down to the fact that most small businesses, like their larger counterparts, host valuable data. Criminals know that if they can access it, they can either hold it to ransom for a large payout or sell it to the highest bidder.
3. 93% of Cyber Attacks Can be Avoided
The good news is that companies can avoid more than 93% of cyber attacks, so long as they put the right systems in place. Most hacks occur because of breaches in security, not via novel technical methods.
However, if you want to block 93% of attacks or more, you will need to hire an IT company to set up your cybersecurity. Trying to do it yourself without the right expertise could leave you vulnerable.
4. The Amount of Cyber Attacks a Year are Rising
If you thought that cyber attacks were becoming less common, you’re mistaken. It turns out that they are rising on most fronts.
For instance, take ransomware attacks where hackers attempt to capture company data and then extort firms for its release. Recent estimates from PBS suggest that this type of attack grew by more than 62% worldwide between 2019 and 2020 and by more than 158% in the United States.
5. Healthcare Organizations are the Number One Victim of Cyber Crimes
Lastly, it appears that if you run a healthcare organization, you are at particularly high risk. Hackers are targeting patient names, dates of birth and social security numbers.
It is happening because in many countries the healthcare sector is a critical part of national infrastructure, particularly in Europe. So criminals are focusing on it because it is a way for them to generate maximum chaos for relatively little input.