It is calculated that by 2027, global spending on cyber security will be $10 billion. However, a surprising aspect of the $6 trillion figure is that it exceeds the damages of the ever-booming illegal drug market. The figure $6 trillion has doubled up from the $3 trillion damage predicted back in 2015. (, 230,000 new malware samples are produced every day — and this is predicted to only keep growing. In most instances, the goal of the phishing scam is to collect confidential data such as usernames, passwords, amongst other crucial data. (, Damage related to cybercrime is projected to hit $6 trillion annually by 2021. Computer Weekly) The total cost of a successful cyber attack is over $5 million, or $301 per employee. As there are more threats rotating online, companies are investing a lot in cyber security and in giving training to employees, mainly regarding online scams and ransomware attacks. … Nicolas Poggi is the head of mobile research at Prey, Inc., provider of the open source Prey Anti-Theft software protecting eight million mobile devices. According to the ACR, businesses will be susceptible to a ransomware attack every 14 seconds. While we’re the topic of cyberattacks and the losses reaped; as a result, we’ve got another essential statistic that stands up to the global impact of cybersecurity. Here are some of the cyber security statistics relating to the costs of cybercrime and cyber security attacks: 14 – Cybercrime damages to reach $6 trillion annually Cybercrime damages are anticipated to cost businesses and organizations $6 trillion annually by 2021, according to the 2019 ACR from Cybersecurity Ventures. Cyber-attacks are increasing day-by-day in the news and the types of cyber-attacks are becoming more varied and sophisticated. Kickstart your IT cybersecurity strategy with this free introductory eBook on best practices, common threats, and security frameworks! Perhaps even scarier is another revelation brought forth in the ACR, which states that the 14 seconds it takes in 2019 will drop to 11 seconds by 2021. (. Freedom of Information | Released on 13 November 2019 Prosecutions and sentences for cyber crime. This is further reinstated by Cybint, which states that almost 60%  of companies have experienced cybercrime in the form of phishing or social engineering attacks, to name a few. As phishing attempts, malware, identity theft, and huge data breaches increase daily, the world is looking at an epidemic that will only be solved with world-wide action. The information security market is expected to grow 8.7% in 2019 to $124bn, driven in part by spending on consultation and implementation services related to the European Union’s (EU’s) General Data Protection Regulation (GDPR) and other privacy legislation. 11. Ransomware is usually thought of as being used to attack average companies. Often considered to be the epicenter of all technological growths, this next statistic comes as a surprise. During the first half of 2019, around 3,800 cyber attacks that led to a data breach were reported. The Department of Homeland Security says it best: “Our daily life, economic vitality, and national security depend on a stable, safe, and resilient cyberspace.”. As the cyber-security climate around us gets harsher, users must flock towards cybersecurity solutions and fight the good fight against the cyber threats encapsulating us! More often than not, small business owners forego cybersecurity entirely, either due to a lack of resources, or because they think they’re not ‘big’ enough to be a target for cyberattacks, which is precisely what makes them the perfect prey to steal from. The need for cybersecurity is fueled by the threat of hackers that compromise important data and systems. There are three main types of hackers: Black hat hackers pose the largest threat to digital networks and systems. At its core, cybersecurity is protection against digital attacks. The significant growth and dominant share of … I’m preparing the slides for my next speech and I decided to create this post while searching for interesting cybercrime statistics in 2020 . The good news is, this number is down compared to 2019 (30). (Uber) 3. Security breaches in 2019 were 11% higher than in 2018. Protect your fleet with Prey's reactive security. 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