Data security problems have become a real challenge for businesses. Current trends reflect the negative impact of a worldwide pandemic and cybersecurity statistics showcase a significant rise in data breaches and hacking. COVID-19 led many workforces to suddenly go remote, paving roads for cyber-attacks.
Current security research shows that most companies have unsafe data and bad cybersecurity practices, making them susceptible to breaches and data loss. To win against malicious actors, it is essential that companies create cybersecurity awareness, protections, and implement best practices in their work culture.
One such method to counter Man-in-the-Middle attacks includes making the switch from HTTP to HTTPS. Simply said, HTTP + SSL = HTTPS. An SSL certificate or a Secure Socket Layer is a security protocol that encrypts the in-transit data exchanged between the web browser and the client-server. If you own an online business website, you must invest in the right kind of SSL certificate to secure your in-transit data from the prying eyes of hackers and sniffers. If budget is a concern, we suggest buying a cost-effective, cheap SSL certificate that affords the same level of encryption as the more expensive ones.
You might have noticed that we mentioned investing in the right kind of SSL certificate and not just any type of cert without matching your needs with the product specs! Suppose you own a webshop that has multiple level-one subdomains such as payments, blog, product collection pages that need to be protected in addition to the chosen primary domain.
In such a case, investing in separate single-domain SSL certs will be a costly affair, not to mention the added cert management hassle. In such cases, we recommend investing in a wildcard SSL certificate. With this single cert in tow, you can secure an unlimited number of first-level subdomains under the chosen main domain at no extra cost!
To offer a comprehensive idea of the present condition of the overall security, we’ve compiled cybersecurity statistics for 2021-22. Here’s what the numbers say.
Raising Awareness – The Need for Better Cybersecurity
Securing your digital ID and data has become a global problem. It appears that people are waking up to cybercrime and data threats. According to a poll by Pearson Institute and the Associated Press-NORC Center for Public Affairs Research, 9 in 10 Americans are aware of hacking, including their personal data, banking information, etc.
Data Breaches in 2021-22 Have Soared Past Those in 2020
As per the Identity Theft Resource Center- the data threat, numbers reported this year have already surpassed last year’s total, setting 2021-22 for a new record, and it’s just 238 breaches away from setting the record for a single year. But, the thing to note isn’t the number. Malicious actors are getting more systematic in their targeting.
According to Cybersecurity Ventures, the cost of a ransomware breach is predicted to go up to $265 Billion by 2031. In addition, the company assessment team estimates that there will be a new attack every 2 seconds with hackers refining their malware payloads and other extortion actions.
The revamped ransomware activities all through 2021 submitted by FinCEN Report are:
- The financial institutes filed 6356 SARs in the first six months of 2021 because of ransomware actions.
- 94% of malware is sent through the mail.
- The H1 2021 stats surpass the amount reported for the complete 2020, which was $416 million, showing a rise in ransomware actions.
- Ransomware transactions amounted to $102.3 million every month in 2021.
- Common variants reported in 2021 were Phobos, Avaddon, Conti, REvil, and DarkSide.
- 20% of the malware domains are new and used just for a week.
The present cyber affairs situation is critical because these attacks aren’t just growing in numbers but also in companies’ monetary and reputational costs.
- 65% of the groups make use of spear-phishing to infect your system.
- According to CSO Online, phishing attacks make up over 80% of reported security activities.
- More than $17,700 is lost every 60 seconds because of a phishing attack.
The Weak Link – Exploitable Supply Chains
Around 97% of the firms are affected by a data security breach because of their inefficient supply chain. The supply chain attacks have increased by a whopping 42% in 2021 in the US, affecting over 7 million people.
However, the solutions to fix supply chain susceptibilities are changing with every passing day. Companies need a proper risk management system that consistently identifies and acknowledges vulnerable processes while acquiring visibility into major supply chain elements.
IOT as a Major Target
Cyber devices (OT/IT) and the incorporation of billions of gadgets in our lives have caused IoT cybersecurity problems for everyone. According to cybersecurity statistics, an average house hits over 104 threats every month. The most susceptible devices are smartphones, computers, tablets, laptops, cameras, and storage devices.
- By 2023, the DDoS attack number will rise to 15.4 million.
- 30% of data issues include internal actors
- IoT gadgets get around 5200 attacks every month.
- Most of the distant code execution attacks are linked with cryptocurrency mining.
With the help of a full-fledged risk management approach to acknowledge and mitigate the IoT risks, the security gaps can be alleviated.
Covid-19 Cybersecurity Statistics
Covid-19 has impacted every industry across the world, and cyberspace is no exception. The pandemic made ways for cybercriminals to target new people; the healthcare sector, distant workers, the unemployed, and more. The list of cybersecurity statistics related to the pandemic are:
- Since the start of the pandemic, the FBI reported a 300% rise in cybercrime.
- Data breaches in the healthcare sector have risen by 58%.
- In just April 2020, Google clogged over 18 million malware and phishing emails linked to coronavirus daily.
Cyber Risks and Their Management
Cybersecurity statistics when compiled speak volumes.
- IDC estimates that by 2025, there will be more than 55.7 billion connected devices, and 75% will feature IoT connectivity which is estimated to produce 73 zettabytes of data.
- According to the estimates of Cisco, the DDoS attacks will increase to 15 million by 2023.
- In 2020, Distributed Denial-of-Service attacks became more dominant. And, according to the NETSCOUT Threat Intelligence data, there were more than 4.8 million attacks in the first six months of the year.
- As per Verizon’s 2020 DBIR, over 80% of the data threats in 2020 were for money.
- Data security risks against Industrial control systems and Operational Technology grew three times in 2020.
- More than 70% of security executives state that their budget will decline in 2022, lowering the spending on risk tools, governance, and compliance.
- The networks and users of companies should be safeguarded against major cybersecurity risks.
Security is all about managing risk. In 2021, the amount of mobile devices have grown remarkably, and so has cybercrime. Let’s hope that cybersecurity efforts are increased so that the cyber-attack statistics for 2022 are less costly and prolific.
Security job prediction statistics
- By the end of 2021, all big companies will have a CISO position.
- By the end of 2021, there will be around 4 million vacant jobs for Cybersecurity.
- Over 46 million websites use SSL by default in 2021, and websites will purchase SSL certificates to grow because it is a major search engine ranking factor essential for SEO.
Cybercrime has always been a primary concern for digital businesses across the world. As companies rely on technology for invention and growth, the avenues for cybercrime issues consistently increase. Hence, you should be aware of the numbers to make better decisions regarding your cyber protection strategies.
Stefanini’s Cybersecurity Solutions Improve your Security Posture
Cybersecurity threats are becoming more common, and while many companies may believe they are protected, even small vulnerabilities can lead to wide scale breaches and security related shutdowns.
Don’t wait for the worst. Our team of experts provide offensive strategies that identify and resolve weaknesses as well as providing defensive cybersecurity solutions prepare for attacks when they happen. Speak with an expert today!