Ransomware is expected to cost businesses and organizations $11.5 billion in 2019. Ransomware attacks aren’t slowing down any time soon. They will cost organizations an estimated $11.5 billion this year alone— and from individual computer users to governments, nobody is exempt. In fact, just recently, the local government of Jackson County, Georgia, had to pay $400,000 in ransom due to a ransomware attack and North Carolina’s Orange County experienced its third ransomware attack in six years.
191 days: The average length of time it takes for organizations to identify a data breach A more than six-month gap between when a breach happens and when it is first identified might seem awfully slow. But 191 days is actually an improvement on the average of 201 days it took organizations to detect a breach in 2016.
A 2018 report estimates that energy companies, ranging from drillers to pipeline operators to utilities, invest less than 0.2 percent of their revenue in cybersecurity — while the number of hacker groups targeting the energy sector is soaring. Energy networks are vulnerable to cyberattacks — and hackers can cause massive power outages, placing national defense infrastructures at risk, and endangering millions of citizens.
Ransomware attacks saw a 350 percent increase in 2018, according to one estimate. Cybersecurity Ventures expects that businesses will fall victim to a ransomware attack every 11 seconds by 2021, up from every 14 seconds in 2019, and every 40 seconds in 2016.
Less than half of companies globally are sufficiently prepared for a cybersecurity attack, according to a PricewaterhouseCoopers report that surveyed 3,000 business leaders from more than 80 countries.
Cybersecurity Ventures predicts that cybercrime damages will cost the world $6 trillion annually by 2021 – exponentially more than the damage inflicted from natural disasters in a year, and more profitable than the global trade of all major illegal drugs
Hacking tools and kits for cyberattacks, identity theft, malware, ransomware, and other nefarious purposes have been available in online marketplaces for several years — at price points starting as low as $1 — which makes the cost of entry to a life of cybercrime nearly free.