All businesses in 2020 need to be more aware of the dangers of cybercrime. It’s a mistake to assume that because you’re a small business, you will escape the unwanted attention of cybercriminals.
From side hustlers and home businesses to mega-corporations that trade all around the world, nobody is safe from the threat of cybercrime. When the majority of businesses fail to give serious thought to the importance of online security, it leaves them exposed to malicious intent and a very real risk of business damage that can’t be recovered from.
To highlight the risks, here are some statistics that might make you view your cybersecurity as something that needs to be a priority rather than an afterthought.
How Often Do Hacks Happen?
If you keep an eye on the world’s headlines, you’ll have noticed those big cybercrimes that make the news. However, that’s not an accurate representation of the reality of cybercrime.
The fact is that cyberattacks occur at a terrifying rate, with an investigation by the University of Maryland confirming that hackers are attacking people and businesses at the rate of every 39 seconds. That’s an average of 2,244 attempted cyberattacks every single day.
The Aftermath of a Cyberattack
Still one of the most prominent cyberattacks of recent years, the Equifax breach that occurred in 2017 is still costing the credit reporting agency money. The $4 billion lost in the attack is still being paid off, so it should be clear that cyber attacks can have long-term effects on profitability.
The Cost of Ransomware
One of the most common types of cyberattack involves the use of ransomware. This is when hackers block access to your systems and data and hold it to ransom. Until you pay what they demand, you are effectively locked out of your systems. While it is often the smaller companies that fall victim to ransomware, large corporations have also proven vulnerable, and the average cost of an attack by ransomware is around $133,000.
That’s considerably more than the average price of the latest cutting edge firewall systems, such as the sonicwall tz300, which can prove essential for protecting against this time of cybercrime.
Businesses, and the marketers that promote them, love email. Quick, easy, and highly cost-effective when it comes to delivering personalized messages to the right people at the right time, email marketing has become one of the most popular forms of outreach in recent years.
However, brands are having to learn more about the dangers of phishing, especially considering that up to 92% of all malware is delivered by email.
Hackers aren’t always what you expect. Rather than individuals acting out of boredom, cybercriminals are often part of a large, organized group. This is becoming more common, as the potential profits of hacking mean that, since 2016, cybercrime has slowly become more profitable than the sale of illegal drugs.
Being online means having to be more aware of the dangers. For companies that spend all day every day talking online with customers and suppliers and building their audience, that means learning more about online security. When even large companies are falling for phishing scams and ransomware attacks, changes must be made to your online defenses.