Cybercrime Statistics: Iconic IT Has the Solutions You Need

by

March 9, 2020

We know you’ve read all the cybercrime statistics 1000 times. Let’s make it 1001:

  • Hackers launch cyberattacks at astonishing rates: Cybercriminals attack an average of once every 29 seconds. By the time you’re done reading this statistic, a cybercriminal is already well on his or her way to launching another attack. It’s estimated that hacking attempts occur over 2,240 times every day.
  • Losses across the globe are predicted to rise throughout 2020: It’s generally thought that global losses due to cybercrime will reach over $6 trillion by the end of 2020.
  • Sixty percent of small businesses will have to close permanently following a cyberattack: As if that cybercrime statistic isn’t frightening enough, consider this: cyberattacks on small businesses rose 425 percent in 2018. That means small to medium-sized businesses aren’t just at risk: cybercrime trends show that they are now intentional targets for a new breed of cybercriminal.
  • Once is not enough: Of the 47 percent of small businesses who suffered a cyberattack, 44 percent faced hacking attempts more than once. They were attacked between two to four times each. This means that if your business was targeted once, cybercrime statistics show increased odds of facing another cyberattack in the future.

Now that you’ve read the latest cybercrime statistics one more time, let’s take a closer look at how these cybercrime trends affect your business.

Your Customers Understand These Cybercrime Statistics

Your customers are very much aware of cybercrime trends and the potential risks of dealing with businesses both in online scenarios and in real life. They understand that companies who do not take appropriate steps to secure data are acting irresponsibly.  Seventy-two percent of consumers are worried that sensitive data will be stolen, and 62 percent are concerned about the possibility of identity theft. Statistically speaking, American consumers are more worried about cybercrime than they are having their homes burglarized, getting mugged, or having their cars stolen.

Your Reputation May Not Withstand the Fallout of a Breach

These sobering consumer-based cybercrime statistics will ruin a breached business:

  • 63 percent of consumers feel the company is solely responsible for keeping data safe
  • 81 percent of consumers will stop doing business with a breached company
  • Only 14 percent of consumers will actively sign up for services with a company that has a history of being breached.
  • Over 55 percent of consumers would cease all online interaction with a company following a breach

Your Business Could be in Violation of Constantly Changing Rules and Regulations

You’ve heard the saying that nothing is constant. Never is this truer than in the face of governmental rules and regulations regarding consumer privacy. Your business needs to understand and fall in step with these regulation changes:

  • Governmental agencies are looking at new cybersecurity certification requirements
  • Regulations regarding industry and privacy rules will be stricter in the future
  • New York has newer, more stringent security program requirements that become effective in March of 2020, following in the footsteps of California’s new regulations that took effect on January 1 of this year
  • New regulations are being unrolled for companies that handle and store credit card information

Integris provides the solutions you need to be compliant and help protect your interests in the face of newer, more comprehensive regulatory requirements.

Ever-Evolving Cybercrime Trends Place Your Business Squarely in the Crosshairs

Small to medium-sized businesses are at risk from many different types of cybercrimes, but Integris has found the following to be the most common.

Cybercrime Statistics Find New Targets: Cloud Native Attacks

A new and alarming cybercrime trend focuses on cloud native attacks. Your cloud services such as Dropbox, AWS, Office 365 and Azure are becoming increasingly vulnerable to sophisticated cybercriminals.

With cloud services, cybercriminals only need to have your login information or your cloud configurations. With this information, they can then copy, delete or otherwise corrupt your data. Your cloud services allow cybercriminals a new way to access your information, and they no longer need to be on your network to do it.

Integris is ready for this new cybercrime trend, with complete solutions that go above and beyond the standard antivirus, firewalls, and other traditional answers. Our professionals are ready to help you secure your online and cloud apps by monitoring and blocking users who attempt to use cloud applications without proper permissions.

Hello, Old Friend: Ransomware Gets a Facelift

Ransomware is constantly changing, evolving to not only take control of your network but also to make it harder to restore your backup. Ransomware can take many forms, from DDoS to blackmail and threats to release your intellectual property to the public. New, highly sophisticated strains of ransomware are even harder to detect, harder to fight, and harder to recover from.  Antivirus alone will not offer your business the protection it needs.

As if ransomware isn’t enough of a problem on its own, having your network victimized by ransomware means you are now at risk for violations of the regulations that govern your industry. Violating CCPA, HIPAA, GDPR and other industry standards means that on top of potentially paying the ransom, you will also be on the hook for costly fines and penalties from governmental agencies as well.

Backing Up Your Data May Not Be Enough

Even a company’s backups may not be enough in today’s cybercrime world.

  • Many companies don’t know where their sensitive data lives
  • Companies may keep backups on the same networks as the original data
  • Companies often do not secure their backups properly

Cybercrime trends show that hackers are increasingly ramping up their attacks on data backups to further cripple your business. By attacking your backups, these criminals know that you will be more likely to experience extended unplanned downtime and increased projected financial losses. In the case of ransomware, bad actors know that taking hold of backup data makes it more likely you will need to pay the ransom to regain control of your network.

Integris follows these cybercrime statistics closely, offering effective backup solutions as part of their complete security packages.

Your Small to Medium-Sized Business Isn’t Safe from Global Threats

You may think your small to medium-sized business is safe from global cybersecurity threats, but keep this in mind:

The goal of state-actors in cybercrime is to gain advantages, either politically or financially, over the United States.

International cybercriminals may not specifically target your business, but your business may be caught in a wide-cast net.

Any small to medium-sized business is at risk, but if you are in the manufacturing industry, infrastructure agency, or municipality and local government industries, you may be right in the path of these global bad actors.

The DHS has released warnings for business owners: Your business may be at risk from countries such as China, Russia, and Iran.

Small to Medium-Sized Businesses Need to be Prepared

Integris understands your customers’ concerns, and we provide protections that keep companies in business.

Integris believes the best defense and recovery from cybercrime is to make sure it never happens in the first place. What we see is that many of our clients are ill-prepared for either a cyberattack or a regulatory audit, despite the cybercrime statistics and cybercrime trends.

That’s why we have developed Iconic Fortify, a complete, multilayered AI security defense system. Iconic Fortify combines Sentinel One, a top-rated antivirus, with a 24/7 Security Operations Center. Our dedicated SOC means that bad actors can’t get through while your regular programs and applications are safe from inappropriate “red flags.”

Integris doesn’t believe in skimping on coverage for our clients. Unlike most MSPs that offer bare-bones services, we have plans as vast as the national parks they are named after. To us, anything else is underserving. We give you have the guidance and supplies you need, like a park ranger helping you through the forests and mountains of your IT issues and needs.

Integris takes a proactive approach to your security, blocking problems before they can affect your consumers, your reputation, and your business. With decades of experience, Integris keeps on top of cybercrime statistics and thinks ahead for ways to protect your business before these cybercrime trends can affect your business.

If you’re ready to stop reading about cybercrime statistics and start protecting yourself instead, contact us for a free, no-obligation consultation today. Let Integris show you how Iconic Fortify is the perfect solution for your small to medium-sized business.

Integris, Iconic Fortify, and you. Better together.


[sc name=”StandardParagraph”]

We're Integris. We're always working to empower people through technology.

Keep reading

4 Cybersecurity Takeaways from China’s Largest Data Breach

4 Cybersecurity Takeaways from China’s Largest Data Breach

Cybersecurity drama strikes again as human error leads to China's biggest data breach and perhaps the most significant hack of personal information in history. According to Threat Post, the incident was triggered after a Chinese government software developer wrote a...

Social Engineering Hacks—Are They a Bigger Threat than Ransomware?

Social Engineering Hacks—Are They a Bigger Threat than Ransomware?

We're making a dent in hacking. Cybersecurity tools are better, and employee security training is better too. The emergence of the cloud means that hacker delights like uninstalled security patches happen far less. Now that most companies are backing up and operating...

The Business Impact of the AGCO Ransomware Attack

The Business Impact of the AGCO Ransomware Attack

On May 6, 2022, global agricultural equipment manufacturer and distributor AGCO announced they were victims of a ransomware attack. The cyber assault hit some of their production facilities on May 5. Restoring operations to normal will take several or more days. While...