Sometimes actions (and stats/facts) speak louder than words.
And that’s certainly the case when it comes to cybercrime, with statistics backing up what we already know – businesses must protect themselves or risk significant disruption and reputational impact.
Businesses are quite rightly being strongly encouraged to take cybercrime and cyber security seriously – and guard against the threats that continue to grow in prominence, complexity and severity.
However, just as they say a picture can paint a thousand words, similarly statistics can help focus the mind and offer tangible evidence that action needs to be taken as a matter of urgency.
The development and increasing scope of digital technology over recent years has had an overwhelmingly positive impact on business, opening up a whole new world of revenue streams, customer engagement, business insights and enhanced processes.
However risk goes hand-in-hand with these positive aspects and it is up to businesses to ensure they are well protected so that they can enjoy and benefit from digital technology – not be hampered by it.
Here are ten cybercrime statistics (along with their sources) that demonstrate why your business must guard against these ever-evolving risks – no matter what size of business or the sector you operate in.
1) The total global annual cost of all data breaches by 2019 is expected to reach $2.1 trillion, suggests Juniper Research – a mobile, online and digital market research specialists (Source: Juniper Research)
2) The total revenue cybercriminals stole from their victims worldwide last year reached $1.5 trillion according to London-based RSA (Source: RSA)
3) The global cost of cybercrime last year was an eye-watering $600 billion (Source: RSA)
4) In proportion to the total number of crimes, cybercrime now accounts for more than 50% of all crimes in the United Kingdom (Source: National Crime Agency)
5) While there are many stories of large companies falling victim to cybercrime, 43% of cyber attacks against businesses worldwide target small companies (Source: Symantec)
6) Up to 0.8% of the world’s GDP is now being lost to cybercrime (Source: McAfee)
7) Most cybercrime is now facilitated through mobile devices and platforms. Over 60% of online fraud is accomplished through mobile platforms. Furthermore, 80% of mobile fraud is successful through mobile apps instead of mobile web browsers (Source: RSA)
8) The average number of records lost to hacking in 2017 was 780,000 per day according to global computer security software company McAfee (Source: McAfee)
9) Up to half a million small and medium-sized businesses in the UK may have fallen victim to cybercrime through their emails at an average cost of £27,000, according to research carried out by Lloyds Bank (Source: Lloyds Bank)
10) Cybercrime statistics could be worse than they suggest. Of an estimated 1.8 million cybercrimes in the UK last year, only 30,000 were reported to the police (Source: Lloyds Bank)
Cybercrime does not discriminate. Cyber criminals will target all businesses where they can profit – be that a sole trader or a huge multinational corporation.
In fact, smaller businesses can be at greater risk as they typically do not have the budget or resource to put the comprehensive, robust processes in place that a larger company may be able to.
However RDS can help. We are unique in that we are able to provide both an audit and understanding of what steps your business needs are in relation to cyber security. We then use all of our passion, expertise and experience to implement the technology identified to safeguard your critical systems and company processes.
Get in touch today to see how we can help protect your business, leaving you free to concentrate on development and growth.