As various types of cyber attacks become more and more prevalent in our modern digital landscape, cybersecurity’s importance continues to grow, urging it to be pushed to the forefront of businesses’ priorities. In the year of 2022, businesses without an established cybersecurity plan put themselves at risk for countless threats, which is why extensive knowledge and a proactive approach are crucial parts of any company’s network security. Interested in finding out ten intriguing and current cybersecurity facts? Keep reading, and get in the know!

1. Phishing is the #1 cyber crime

Phishing is defined as a type of social engineering where a cyber attacker sends a fraudulent message baiting the victim into divulging personal information or downloading software which contains harmful content such as ransomware. Email continues to be the most common way hackers orchestrate these attacks. In 2021 alone, the FBI found that over 320,000 people fell victim to phishing attacks in the United States. This was a 34% increase from the previous year. These attacks are disguised as being benevolent, and they can often seem extremely legitimate, without any trace of suspicious behavior. They will typically mimic trusted institutions such as banks.

2. Human error frequently causes breaches

Many times, people mean well and have nothing but good intentions, but they still cause cybersecurity issues by accident. A large number of these problems can be traced back to a lack of knowledge and awareness around proper cybersecurity measures. People often fail to complete safety defenses such as setting strong enough passwords or recognizing phishing scams. In fact, about 95% of cybersecurity issues are traced back to human error. This is a significant statistic, calling for enhanced security training across companies to ensure employees know the proper protocol to prevent data breaches.

3. Apps containing malware pose huge risks

Due to the prevalence of apps on devices such as smartphones and tablets, malware attacks within apps have been on the rise amid the cybercrime sphere. Studies have shown that 1 in 36 devices have high-risk apps installed. These malicious apps appear harmless and unsuspecting on the surface and are available on trusted app stores, but once installed, they can gain access to sensitive information. Some of these apps contain banking Trojans – Trojan viruses with malicious software programming that harvests banking credentials from victims. This form of malware can cause serious financial losses.

4. The U.S. suffers from the most cyber attacks

Within the United States, cyber attacks have caused the most harm as compared to other countries. Although companies with more robust security standards have benefited from this enhanced protocol, the companies who fall behind continue to fall victim to various attacks. In the United States, data breaches are more costly than anywhere else in the world, costing over $4 million per attack on average. Plus, in 2020, the U.S. accounted for 46% of the world’s cyber attacks, which was over double the amount of any other country. These statistics put into perspective how serious the nation’s cybersecurity issues are, especially within government agencies.

5. The cost of data breaches continues to rise

Each year, data breaches across the globe are costing more and more on average. Businesses can take a serious financial hit once a data breach occurs, and sometimes, they are never able to recover. According to IBM’s 2020 cost data breach report, the data breaches with the highest costs clock in at over $7 million. Cybersecurity Ventures predict that cyber crime will globally cost $10.5 trillion per year by 2025. This is even larger than the cost of damages sustained by natural disasters worldwide.

6. Artificial intelligence creates unique threats

Although artificial intelligence can be used for good and even help within cybersecurity efforts, it can also create a unique set of cyberthreats that can cause severe damages. AI has the ability to utilize machine learning and execute automated attacks. Because of the sophisticated responses orchestrated through machine learning, these systems can often bypass security filters, meaning companies require complex malware protection to properly defend themselves against these cybercriminals.

7. The average ransomware payment is $570,000

Ransomware attacks continue to grow in scale. Not only are they becoming increasingly common, but they are also costing more year after year. At over half a million dollars per attack on average, this form of cyberthreat is very costly to its victims. It even evolved to become double ransomware, in which cybercriminals demand a ransom to decrypt the data and then another to stop the hackers from selling the data on the dark web. Businesses are forced to pay up in order to prevent serious issues caused by data breaches, but the expense combined with the lost trust and tarnished reputation can create major harm in the long run.

8. Mobile devices and cloud services may cause vulnerabilities

As cybercrimes become more frequent within technologies found on smartphones and cloud services, the potential threats on these platforms increase substantially. Many people are unaware of the risks on their mobile devices, not realizing the ways they can be targeted by hackers. As mentioned before, apps on these phones can pose a threat. Additionally, smishing – or phishing through SMS – can be detrimental.

Cloud services also possess some vulnerabilities. Individual users and companies alike are relying on clouds more often for their data backup needs, which is a great use of the tool, but some of these clouds do not have proper security measures in place. Amplifying the protective measures in place on these services is crucial in order to protect your data.

9. 94% of malware comes through email

Email has been a staple of modern technology for quite some time now, allowing for quick, easy, and accessible communication. Despite this, fraudulent emails continue to pose a threat, and that doesn’t seem to be stopping any time soon. Verizon’s 2021 data breach report found that 94% of malware is delivered by email, and much of this malware is contained within Microsoft Office files sent to unsuspecting victims. Hypervigilance regarding the source and sender of these emails is incredibly important to stress during cybersecurity training due to the broad scope of these attacks.

10. Many companies are unprepared for cyber attacks

Especially with the rise of remote work since 2020, cybersecurity compliance among employees becomes more important now than ever before. No matter the size of a company, it can still easily become the target of an attack by cybercriminals. Despite this, many businesses are not taking the right measures to decrease their risks when it comes to cyber attacks. Training among all employees is critical to ensure that these data breaches and network security problems are kept to a minimum.

Cybersecurity: the business priority of the here and now

No matter how many different cybersecurity protocols your company has in place, you can never be too protected from the ever-evolving threats that loom due to cybercriminals. If your business is seeking expert cybersecurity consulting from professionals who truly know their stuff, find out what GoodSuite can do for you. With top-notch technology guidance and a team who prioritizes their customers, GoodSuite has been committed to success for over 20 years. Fill out our form today to receive a consultation!