Cyber attacks are attempts to infiltrate computer systems or networks with the overarching aim of causing harm. The miscreants behind these attacks are focused on disabling or disrupting computer systems and obtaining unauthorized access to files, networks and more. The most successful of such attacks empower hackers to pilfer valuable data or even destroy data. Below, our cyber security team on Long Island delves into cyber attack trends, data and stats.
Cyber Attack Statistics of Note
Cybercrime is quite problematic in that it costs the worldwide economy more than a trillion dollars per year. This is a 50% hike from the figure predicted two years ago. In fact, this figure represents more than 1% of worldwide GDP. Data breaches compromising 50 million records costs an eye-popping $392 million. Data breaches that compromise a million to 10 million records results in costs of $50 million.
Though the average cost of such breaches has declined from $3.92 million merely two years ago, this trend was not steady across all industries and niches. Regardless of what industry or niche your company works in, our cyber security team on Long Island is here to lend invaluable assistance, helping you avoid a crippling digital attack.
Cyber Attack Stats by Industry
Cyber attacks are not uniform across all industries. Some industries have been hit particularly hard while others haven’t been in hackers’ crosshairs nearly as often. It is particularly interesting to note data breach costs in financial services average $5.86 million while the average cost of such an attack in the healthcare industry is $7.13 million. The average cost of these attacks in industries such as hospitality and media is a whopping $2 million higher. The overall average lifecycle for a data breach in all industries is 280 days, yet it is 329 days for the healthcare sector.
It is particularly interesting to note nearly 85% of energy businesses have a professional in a dedicated cyber security role. More than two-thirds of such companies are likely to obtain cyber liability insurance. It is quite depressing to learn 30 cyber attacks are inflicted on the power sector every single day in India alone. Nearly 1,800 DDoS attacks were levied against utility companies in June and August of last year, representing a nearly 600% increase from the year prior.
Total Technology Solutions is on Your Side
Our cyber security professionals on Long Island are here to fortify your digital defenses. If you have not been victimized by a digital attack, it is only a matter of time until that attack occurs. Lean on our team for guidance and optimal defenses. Feel free to reach out to us to coordinate an initial consultation.