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The Most Alarming Facts About Business Cyber Security

Cyberattacks are increasing daily. As the dependence on technology continues to grow, all of us are vulnerable to the illicit activities of malicious individuals online.

In this feature, we will provide seven salient points regarding the importance of cybersecurity today.

1. 95% of Breaching Records Were Entitled to 3 Industries only

Although it sounds shocking, 95% of the data breaches were targeted at only three industries only — government, technology, and retail.

This is because these industries have an abundance of customer data, making them particularly vulnerable to hackers looking for individuals’ personal details online.

2. Small Business is the Epicenter of Cyber Attacks

Cyberattacks are not only targeted at the largest names in the business world.

Around 42% of the cyberattacks are targeted at small businesses. Cybercriminals know these firms are likely to have more lax safeguards.

Naturally, many small businesses don’t do enough to keep their information safe and don’t prioritize data integrity due to resource constraints.

Unfortunately, many small businesses have failed outright because of cyberattacks and the financial damage associated with data breaches in the last five years.

3. A Cyber Attack is Carried out Within a few Seconds

It takes, on average, just 39 seconds for a hacker to penetrate the main computer system of any company.

You can imagine how many attacks are carried out throughout the day.

If you haven’t invested in the security of your business, now is the right time to do it—conduct a compromise assessment to identify the loopholes in your current system.

4. The Cyber Attacks have Increased Exponentially During COVID-19

COVID-19 has taken a big toll on several businesses across the globe.

With the pandemic affecting virtually every business negatively in some form, the FBI has reported a 300% increase in cyber attacks.

This means cybercriminals have claimed the opportunity and are using it to their full capacity.

5. The Net Worth of Cyber Security is $6 Trillion

Although it sounds high ($6 trillion is about 30% of US GDP), experts predict that around $6 trillion will be openly spent on cybersecurity by millions of businesses across the globe.

Because cyber business security is a major and increasing concern, organizations are making sure they up their safeguards.

6. Human Errors are The Basic Reason Behind Data Breaches

Around 95% of data breaches are the result of human errors.

The weakest links in your system may be exploited by cybercriminals.

It is also important to educate your employees regarding cyberattacks and how they may occur.

7. It Takes Time to Detect a Data Breach

In simple words, even large businesses can take up to six months to detect a major data breach.

This means you could be working in your casual routine and not realize that the company has become a target. Dedicated IT teams can help to get rid of such problems.

Cyberattacks continue to increase as the dependence on technology increases and the world becomes increasingly digital (a trend that COVID-19 accelerated in many respects to start the decade).

If you are serious about protecting your company’s data from cybercriminals, it is in your best interest to invest in measures to secure your company data, such as information backup, cloud storage, firewalls, VPNs, and antivirus software.

 

 

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