Malicious attacks have spiked throughout the years and cybersecurity has been discussed in so many ways. Throughout the pandemic and with employees working from home, companies have been targeted and attacked with many different methods. Hackers don’t take a day off, so we’re here to help you stay protected.
Malicious Attacks – How Often Do They Happen?
According to Embroker, in 2021, cyber attacks happen every 11 seconds. That has increased through time, but it will continue to rise through time. It was said that in 2020, 155.8 million individuals were affected by data exposures …
Impact and Severity of Cyber Attacks
Cyber attacks can impact businesses and organizations in many ways – from minor disruptions to financial losses. Every consequence leads have some form of cost. Malicious attacks can impact your business weeks, if not months later.Your business may suffer in these areas:
- Financial losses
- Loss of productivity
- Reputation damage
- Legal liability
- Business continuity problems
Costs of Cybercrime
According to the FBI, the cost of cybercrime in the US was $3.5 billion in 2019, as stated by Colbalt. The cost could be much higher if it remains unnoticed. In 2020, the average business cost of a cyberattack is $3.86 million and it takes over 200 days to detect the breach (IBM). Statistics show that cyberattacks are projected to hit $6 trillion in the annual loss in 2021, which has doubled since 2015. (Cybersecurity Ventures).
Cybercrimes can cost enough to shut down small businesses if it remains unnoticeable or the malicious attacks are not safely resolved. The average ransom demand is over $100,000, which continues to grow over time. Over a third of all companies attacked with a ransomware attack, end up paying that price, resulting, on average, in a 16-day downtime for the attacked firm. The percentage and increase of cost continue to rise through the years as hackers continue to learn and grow.
How To Prevent Malicious Attacks
Click here to learn more about PCS.