You need to know these 10 cyber security statistics.
Bold, we know. But the cyber landscape is constantly evolving, developing, deepening and it’s your responsibility to keep up. We think you’ll agree after reading these 10 shocking statistics…
1. The average cost of a malware attack on a company is £1.8 million. (Accenture)
Bet you didn’t include that figure in your annual budgeting. It’s an unnecessary cost and is all too often not budgeted for. Nobody expects to be attacked, they just are. You can protect your organisation, be prepared and have a plan in place to minimise the impact and therefore the cost. Simple procedures like firewalls have a huge impact on how vulnerable your organisation is, and firewalls are an excellent way to block the majority of malware from touching your systems. Yes, a cyber attack can cost a lot in money, but the amount of time lost for a business too can be devastating. The same research found that on average, 50 days are lost after a malware attack. That amount of downtime really hits a company hard.
2. Ransomware attacks are growing more than 350% annually. (Cisco)
Probably the most heard about type of malware. Ransomware has gained quite a name for itself in recent years. It’s your typical Bond-esque malware, demanding a ransom while holding data, systems and infrastructures hostage until it’s paid. Or so they say anyway. It’s certainly not unheard of for ransoms to be paid and then nothing is released back to the company.
3. By 2020, the estimated number of passwords used by humans and machines worldwide will grow to 300 billion. (SC Magazine)
How many times have you sighed at having to continuously fill out longer, more complicated passwords that you eventually forget? There are better things to remember than passwords, right? And PLEASE don’t write them down either, it’s not even funny how unsecured that is. Instead, have you considered multi-factor-authentication (AKA MFA because it’s a bit of a mouthful). It’s stronger than just a password and takes 2-factor authentication to the next level.
4. Trojan horse virus Ramnit largely affected the financial sector in 2017, accounting for 53% of attacks. (Cisco)
The financial services sector holds a lot of sensitive information, and it’s the type of information that nobody wants anyone to have access to. So Trojan Horse Malware misleads the user of its true intent. They take advantage through social engineering and trick the user into installing or loading up a Trojan onto their systems. They’re designed to damage, disrupt, steal, or in general inflict some other harmful action on your data or network. We work with leading technologies to offer excellent methods of blocking Trojan Horses.
5. 69% of organisations don’t believe the threats they’re seeing can be blocked by their anti-virus software.(IBM)
Outdated anti-virus software is only marginally better than having nothing there. If you can’t trust your anti-virus then you should be acting on that real quick to turn it into something you know will protect you. You wouldn’t publish your bank details for the whole world to see, so why leave your organisations data out in the open for anyone to take advantage of?
6. Microsoft Office formats such as Word, PowerPoint and Excel make up the most prevalent group of malicious file extensions at 38% of the total. (Cisco)
We are humans and we find comfort in familiarity. It’s something we know well and so why shouldn’t we trust it? Newsflash: Things are not always what they seem. Especially email attachments. Do you have any email security in place? This will scan emails and their attachments before they reach your inbox and saves a whole load of heartache. Trust your PDF attachments are real PDFs before you’re catfished into downloading malware.
7. The most expensive component of a cyber-attack is information loss, which represents 43% of costs. (Accenture)
I can’t stress how expensive a cyber-attack can be. And the downtime. And the damage to reputation. And the loss of customers…. Oh it goes on. Information is at the core of business and it's not just customer data. All the business processes, rules set out in the technological infrastructure and documents are just a few of the vital components that keep a business running. With 68% of SMBs not having a disaster recovery plan (Nationwide Insurance), it's a scary thought of just how much revenue and downtime will be affected should they be attacked. In fact, 60% of companies who experience data loss actually shut down within six months (Boston Computing) which really highlights the important of having an effective backup and disaster recovery plan.
Interesting story, a customer came to us following a cyber disaster - they were taken offline in an attack and believed they had lost customer information, infrastructure processes and vital business information. Thankfully, we were able to recover all their lost information and implement process to prevent this from happening again. They were back up and running in 2 weeks and we still work with them a few years later. Considering the statistic from Boston Computing above, this nightmare scenario was mitigated thanks to an effective plan and procedure.
8. 43% of businesses and 20% of charities suffered a cyber breach or attack in the past 12 months. (Ipsos)
It’s not just few and far between. It’s not the odd attack. It’s very real. Very present. Very common. They even go after charities – says it all really. It can seem daunting – a cyber security strategy is a big task and if you’re confused with where to start, why not have a big review of your infrastructure? Find the holes and the weak points that hackers will weedle their way into and fix them. Build walls and barriers that deflect any kind of hack attempt and actually trust your strategy because it’s been based on research. Data-driven cyber security. Got a ring to it.
9. Only a fifth (20%) of businesses have had any staff attend internal or external cyber security training in the last 12 months. (Ipsos)
Humans are weak points. There, I said it. They are though – humans are nosy, inquisitive and not all-knowing. They do however, learn fast and can easily become one of your strongest defences with some training. As I mentioned earlier, a lot of cyber-attacks rely on social engineering and tricking a trusting employee to unwittingly become an accomplice in an attack. Once people are in the loop and know what tricks to look out for, you gain a new cyber-defence asset in every employee.
10. Of the businesses which identified a breach or attack, 25% had a temporary loss of files, 20% had software or systems corrupted, 10% lost access to third party systems they rely on, and 10% had their website taken down or slowed. (Gov)
So, now that we have convinced you that cyber-security should always be a priority, why not have a browse of all the different ways you can stay protected?