Cybercrime or computer crime costs US companies over half a billion dollars in annual loss. In addition, data breaches compromise millions of user accounts. In this research report, we will take an in-depth look at cybercrime statistics and see how it impacts businesses and consumers. Furthermore, we’ll explore cybercrime growth statistics, cybersecurity, projections, and other cybercrime data.
Being informed will make you aware that cybercrime can strike just about anyone who is online. Hence, it is vital that you are knowledgeable of IT security solutions. Also, cybercrime is a compelling reason for you to use backup tools and implement strict security measures. Cybercrime is a very serious matter. To emphasize, IBM Chairman Ginni Rometty called cybercrime “the greatest threat to … every company in the world.”
Statistics on the Cybercrime Landscape
We explore the cybercrime landscape with these cybercrime facts and statistics. The numbers give you an idea of how widespread cybercrimes are in an increasingly digital and connected world.
- Among 13 crimes measured, the top two most worrisome for Americans are cybercrimes. 71% feared computer hackers accessing their personal, credit card or financial information, and 67% worry about identity theft. (Gallup)
- In a survey of cyber attacks experienced by organizations in 5 countries, those in Spain came out as the most targeted at 57%, followed by the Netherlands at 50%, Germany 48%, UK 40%, and US 38%. (Hiscox/Forrester Consulting)
Data breach gets our attention when we read about billions of personal user information stolen from large companies. In truth, a data breach can happen to any company big or small and can involve data theft of only a few thousand records.
- In January 2019 alone, 1.76 billion records were leaked from various data breaches around the world. (IT Governance UK)
- Malicious or criminal attacks are the cause of 48% of data breaches, human error accounts for 27%, and system glitch 25%. (IBM)
- The average size for a data breach is 25,575 records. (IBM)
- Tactics utilized in breaches include hacking – 48%, malware inclusion – 30%, errors as causal events – 17%, social attacks – 17%, privilege misuse – 12% and physical actions – 11%. (Verizon)
- 58% of data breach victims are classified as small businesses. (Verizon)
- Among the sectors that fall prey to a data breach, 24% are healthcare organizations, 15% accommodation and food services, and 14% public sector entities. (Verizon)
- Most IT professionals consider end-user devices as the most vulnerable to breaches and security threats. The level of risk is as follows: desktops and laptops – 70%, smartphones – 61%, tablets – 53%, wireless access points – 50%, servers and server rooms – 50%, and routers and switches – 47%. (AT&T Cybersecurity Report 2018)
IT pros consider the following as having the highest level of risk to hacks, breaches, and other cyber threats:
Source: AT&T 2018 Cybersecurity Report Designed by
The top malware carrier is email. Here are the eye-opening facts and figures relating to the infestation of email.
- Email is responsible for 92.4% of malware. It is followed by the Web for a measly 6.3%, and others 1.3%. (Verizon 2018 Data Breach Investigations Report)
- 91% of cyberattacks and the resulting data breach start with a spear phishing email. (Cofense)
- 90% of verified phishing emails were found in environments using secure email gateways. (Cofense)
- Two Microsoft cloud services are exploited by scammers. Of over 9,000 phishing analyzed, it was found out that 55% of payloads were hosted on Sharepoint while 21% of payloads were hosted on One Drive. (Cofense)
- The most malicious file extensions in email documents are Microsoft Office formats (Word, PowerPoint, Excel) at 38%. This is followed by archive file formats (.zip, .jar) at 37%, PDf format 14%, other extensions 6%, binaries 4%, and XML/HTML/JS at 1%. (Cisco)
For the criminal-minded, cybercrime pays. And it pays by the trillions. Majority of cyberattacks, theft, breaches and other digital crimes are driven by one thing.
- Money is the main motivation for 76% of cyber attacks. Majority or 73% of these attacks and breaches were carried out by people outside the organization including 50% by organized criminal groups and 12% by nation-state or state-affiliated actors. (Verizon)
- If there was a cybercrime market size, it would be this – $1.5 trillion is the conservative estimate of cybercriminal revenues worldwide. That cybercrime market value is equal to Russia’s GDP. The total haul includes $860 billion from illegal online markets, $500 billion from theft of trade secrets, $160 billion data trading, $1.6 billion crimeware-as-a-service, and $1 billion ransomware. (Bromium & Dr. Michael McGuire – 2018 Web of Profit Report)
Cybercrime Statistics & Impact on Business
Our cybercrime report sees an increase in data breaches and digital attacks as more businesses go online. The view on cybercrime loss statistics is not favorable. In reality, the cost of cybercrime to companies around the globe is in the billions of dollars. Here’s what you need to know.
- The global cost of cybercrime will be more than $2 billion in 2019. (thebestvpn – Juniper Research)
- The average cost of a data breach for organizations worldwide is $3.92 million as of 2019. (IBM 2019 Cost of a Data Breach Report).
- The most expensive country for a data breach is the US, costing $8.19 million. (IBM)
- The most expensive industry for a data breach is healthcare, costing $6.45 million. (IBM)
- Ransomeware attacks are expected to cost companies $11.5 billion in 2019. (cybersecurityventures.com).
- 7 out of 10 organizations are ill-equipped to respond to a cyber attack. (Hiscox Cyber Readiness Report 2018)
- Cybersecurity is the top technology priority for organizations: 82% put at #1 improving cybersecurity, 81% improving the customer experience, 75% improving sales and marketing analytics, 73% improving business intelligence, and 73% innovating or improving products and services. (AT&T Cybersecurity Report 2018)
- Organizations spend up to $50,000 dealing with a denial-of-service attack. (Corero)
- Small businesses lose on average $100,000 per ransomware incident due to downtime and recovery costs. (CNN Business)
- Unplanned downtime can cost businesses from $926/minute (low end estimate) up to $17,244/minute (high-end estimate). (phoenixNAP)
- Over 50% of businesses don not have the budget to recover from a cyberattack.
Statistics on Cyber Protection & Security
Cybercrime increase statistics show exponential growth as Internet users add up. Consequently, there has also been an increase in the number of cybersecurity vendors, tools, and spending. Here are developments in cybercrime security and the most common tools for protection.
- The most challenging areas and functions to defend are mobile devices at 57%, public cloud data 56%, and user behavior 56%. (Cisco)
- Organizations use several products from various security vendors. 30% said they used products from 1 – 5 vendors, 24% from 6 – 10 vendors, 25% 11 – 20 vendors, 16% 21 – 50 vendors, and 5% 50+ vendors. (Cisco)
- According to security personnel respondents, the top 3 benefits for hosting networks in the cloud are – better data security (57%), scalability (48%), and ease of use (46%). (Cisco)
- If skills and staff shortages are addressed, key capabilities IT pros would like added include: endpoint forensics – 19%, cloud access security broker – 17%, web app firewall – 17%, intrusion prevention – 16%, multifactor authentication – 16%, mobility security – 16%, network forensics – 16%, endpoint protection/antivirus – 16%, firewall – 16%, and encryption/privacy/data protection – 15%. (Cisco)
- Only 26% of security issues are addressed by a product or technology alone. Equally important, 74% require people and/or policies to address. (Cisco)
If skills and staff shortages are addressed, IT pros would like to have these key capabilities added:
Cloud access security broker%
Source: Cisco 2018 Annual Cybersecurity Report Designed by
Malware in all its forms has now taken the leap from desktops and laptops to infecting mobile devices. In fact, more malware is being introduced into mobile apps as the number of smartphone and tablet users grow. These endpoint devices, as well as networks and apps, can be secured by leading IT security software solutions that can monitor and prevent unwanted intrusions.
- The mobile anti-malware market value was $3.42 billion in 2017. It will grow by 17.9% to reach $9.20 billion in 2023. (Mordor Intelligence)
- Of the Android malware by type, 96.93% are trojans, 1.67% password Trojans, 0.67% exploits, 0.31% others, and 0.22% ransomware. (Mordor Intelligence)
- In 2017, around 24,000 malicious mobile apps were blocked daily. (Symantec)
- 63% of malicious mobile apps are able to leak the phone number and 37% the device location. (Symantec)
- Categories that have the most malicious mobile apps are those relating to Lifestyle (27%) and Music & Audio (20%). (Symantec)
Virtual Private Networks
Usage of VPN services has grown in recent years with the availability of more VPN providers. Furthermore, there has been an increase in public awareness of its benefits.
- The VPN global market was valued at $15.64 billion in 2016 and will grow to $20.6 billion in 2018. It will be worth $36 billion by 2022. (Orbis Research/Statista)
- The top usages by region are: Asia-Pacific at 30%, Latin America 23%, Middle East & Africa 19%, and North America 17%, and Europe 17%.
- 1 in 4 Internet users has accessed a VPN in the last month – 17% from desktop, 15% on mobile, and 7% on tablet. (thebestvpn.com)
- Of those who accessed a VPN in the last month, 35% did so every day on desktop and 42% on mobile. (thebestvpn.com)
- On VPN use by gender, 62% are male and 38% are female. By age group, 35% are from ages 16–24, 33% ages 25–34, 19% 35–44, 9% 45-54, and 4% 55-64. (thebestvpn.com)
Backing up data allows you to recover important information and files in case of unexpected incidents. It is a good practice that can easily be undertaken with the use of data backup solutions. Here’s how the field is faring.
- $7.13 billion was the value of the data backup and recovery market in 2017. It will grow by 10.2% to reach $11.59 billion in 2022. (Markets and Markets)
- Concern about security and safety is the top reason businesses backup data. Survey shows 61% are concerned about ransomware, another 61% are concerned about social engineering attacks, and 60% about cryptojacking. (Acronis World Backup Day Survey 2019)
- 97% of businesses back up their data at least once a year. Of those, 86 % perform backups monthly, weekly or daily. (Acronis)
- According to IT experts, the technologies that bring the most risk in terms of data loss are ransomware (42%), mobility/BYOD (38%), and social media use (9%). (StorageCraft)
- 40% to 60% of small businesses who lose access to operational systems and data without a disaster recovery plan close shop. (phoenixNAP)
Projections & Directions
Companies will continue to face the threat of cybercrimes to their business and customers. Here are the current and future preparations.
- From 2020 to 2025, spending on cybersecurity will exceed $1 trillion. (Cybersecurity Ventures)
- The cybersecurity market will grow by 12% to 15% growth through 2021. (Cybersecurity Ventures)
- Microsoft will be investing $1 billion in cybersecurity research and development for the next years. This is in order to secure its products and services. (Microsoft Blog)
- There was a big rise in crypto-jacking attacks in 2018. In this regard, 55% of IT leaders believe this type of cybercrime is even more of a threat than ransomware. Hence, the market will increase security measures against cryptojacking in 2019 and beyond. (AT&T)
Important Takeaways from Cybercrime Statistics
Our cybercrime statistics underscore the need for preparation by businesses. Cybercrime is becoming pervasive and hackers have become bolder. There is no exception to which they can target. Indeed, both small and large businesses can be at the crosshairs as long as there are vulnerabilities. To profit from data, identity, and financial information is an overpowering motivation for criminals.
What businesses can do is implement more stringent security measures and set more safeguards. Moreover, they can utilize data storage and backup solutions. In truth, no one is really safe from expert hackers and determined cybercriminals. However, having strong defenses and protection can give them seconds thoughts on their intentions. The lesson has always been: better safe than sorry.