30+ Cybersecurity Hacking Statistics: Hackers, Cyber Attacks, Phishing & Prediction (2023)

Cyber attack has caused damages on organizations, and 400% more during the COVID-19, costing them millions of dollars to get back up after every hit.

Hacking Statistics

Damaging their reputation is another side of the consequences. Perhaps, that explains why some organisations would rather pay the ransom than try to wrestle to retrieve their glory, putting their businesses on the line in the process. In 2021, the total monetary damage caused by cyber-attacks amounted to $6 trillion and is projected to hit $10.5 trillion over the next 5 years (2025).

Do you want to learn more statistics on cyber security and know about some of the greatest cyber attacks in history? Then you are at the right place. This article highlights the statistics of cybersecurity to enlighten and help you make the right decisions. Let's take you through the numbers.

 Must-Know Cyber Security Hacking Statistics

  • In 2021, the total damage of cyber attacks was estimated at $6 trillion
  • There is at least 1 cyber attack in every 39 seconds.
  • Microsoft reports that 58% of cyberattacks from nation states originated in Russia.
  • The United States remains the highest targeted country with cyberattacks at 46%.
  • The average cost of breaches in 2021 was $4.48 million.
  • 43% of attacks are aimed at small and medium-scale businesses but only 14% are ready to defend themselves

30+ Hacking Statistics, Facts & Trends in 2022

Cyber Attacks

How Many Cyberattacks were Recorded in 2021?

Cyberattacks were Recorded in 2021

2021 recorded one of the highest cyber attacks. According to Check Point, the last quarter is 2021 (Q4 2021) saw the peak of all time in weekly cyberattacks per organization. Totaling over 900 attacks per organization. In the same year, there was a 50% increase in weekly overall cyber attacks on corporate networks, compared to the previous year (2020).

Average Weekly Attacks per Organization

Education/research was the most attacked sector with an average of 1,605 attacks per organization every week. This was a tremendous increase of 75% from 2020. The government/sector follows with 1,136 attacks, a 47% increase. The third most attacked sector is the communication sector, with 1,079, a 51% increase from 2020.

[Source: CheckPoint]

Where do Most Cyber Attacks Come From?

Cyber attacks are launched by notorious cyber criminals who live in the following countries. We shall be ranking the first 5 countries according to how many attacks originate from there. The first on the list is China, with 41% of world attack traffic. As per research, 27.24% of cyber-attacks are traced to China.

The United States comes 2nd with 10% of the world's cyber attack traffic. 17.12% of attacks come from the United States. The 3rd ranking country in cyber attacks is Turkey, accounting for 4.7%.

As per an estimate, 10.24% of cyberattacks are carried out by Turkish. Russia accounts for 4.3% of the world's attack traffic. And 5.14% of attacks are carried out by Russians. Taiwan accounts for 3.7% of the world's attack traffic.

[Source: GovernmentTechnology, SecurityToday]

What Country is the Most Affected?

Country is the Most Affected

According to Specop, the United States suffered the most significant attacks totaling 156 between the period of 2006 to 2020. It highlighted 2018 as the worst year of attack for the country, with about 30 attacks occurring throughout the year alone. The United Kingdom takes the 2nd spot with 47 attacks.  And India ranks 3rd most affected country with 23 attacks in 2018.

In the same year, about 10.52 billion Malware attacks were carried out, higher than the figure of the previous year. The United States once again stands at the most hit with over 5 billion Malware attacks. China follows with 601.6 million attacks. In the UK, 583.8 million. Canada, 432.2 million. India 412.2 million. Germany 372.6 million. Brazil 262.7 million Malware attacks, all in 2018.

[Source: Specops, Statista]

What is the Total Damage Caused by Cyber Attack in 2020?

Total Damage Caused by Cyber Attack in 2020

The monetary damages caused by cyber-attacks have increased significantly over the years. The average cost of data breaches in 2020 was $3.86 million. It rose to $4.24 million in 2021. A data breach compromising 1 – 10 million records costs as much as an average of  $50 million. One compromising 50 million records costs as much as $392 million. The average per record (per capita) cost is data breaches increased by 10.3% from 2020 – 2021.

For cybercrime, on the other hand, from 2001 to 2021 (a decade), the Internet Crime Complaint Center (IC3), has received a significant increase in reports. The last report received by IC3 amounted to $6.9 billion, up from $1 billion in 2001.

[Source: Statista, Parachute]

How Often Do Cyber Attacks Occur?

Every 39 seconds, there is a cyberattack going on on the Web, and that's about 2,244 habits daily. That is how frequently attacks occur. In fact, according to TechJury, globally, 30,000 websites are hacked daily, and 64% of companies have experienced at least one form of cyber attack.

It is important to note that an attack is not the same as a breach. It could be successful or not depending on the sophistication of the hacker, and the cybersecurity measures put in place by the target.

In March 2021, Internet users reported 157 leading to hackers breaching 20.9 million records. That would be about over 677 thousand records per day and 28,219 records every 24 hours.

[Source: TechJury]

How Many Businesses Suffer Cyber Attack?

Many Businesses Suffer Cyber Attack

1 in 10 small businesses suffers cyber-attacks. According to 99firms, over 43% of cyberattacks target small businesses. Cyber attackers are aware that not all small businesses' security infrastructures are tight, therefore they direct most of their attacks on small businesses.

The figure reported in 2020 is a significant increase of 18% from a few years ago. Small businesses with an employee of less than 500 spent $7.68 million per incident on average. If you are running a small business, the cybersecurity statistics provided so far, and more below suggest that you invest properly to safeguard your security infrastructure.

[Source: 99firms]

What is the Prediction of Cyber Attack Globally?

Globally, cyber attack and crime monetary damage is predicted to hit $10.5 trillion in 2025. Cybersecurity Venture says it expects attacks to grow by 15% per year over the next 5 years to reach $10.5 trillion annually by 2025, an increase from the $3 trillion it was in 2015. These costs include stolen money, the cost of notification, lost productivity, damage, destruction of data, etc.

Global ransomware damage was $20 billion in 2021, an increase of $325 million in 2015. That's over 57x higher. In a decade from 2021 (2031), the figure is expected to have increased to $265 billion.  Ransomware attacks were at 11 seconds per day in 2021, an increase from 14 seconds it was in 2019. It is also predicted that the attacks will climb to 2 seconds per day in 2031.

[Source: CybersecurityVentures]

What Percentage does Phishing Account for in Cyber Attacks?

Percentage does Phishing Account for in Cyber Attacks

Phishing cannot be left out when you talk about the components of cyber attacks. Phishing accounts for more than 80% of attack incidents reported, and $17,700 million is lost per minute due to phishing attacks.

Globally, 57% of organizations see weekly or daily phishing attempts. 90% of corporate data security breaches are due to phishing attacks—corporate entities can only do their best in securing their data against attacks, but phishing remains a huge fit for most companies, especially because they are easy to mount. Small and mid-scale businesses too are not left out of the setbacks caused by phishing as they lose $1.6 million recovering from a phishing attack.

[Source: DataProt, Varonis]

How Much do Businesses Lose due to Cyber Attacks?

Both small, medium and large-scale businesses suffer the brunt of cyberattacks. The United as a whole lose $8.6 million due to cyberattacks, which is the highest cost of a data breach in the world. Small and medium-scale businesses lost $212,000 in 2021 to cyberattacks that affected suppliers that they shared data with. When all the expenses of small businesses are put together, it is estimated that they lose about $55,000.

Large-scale businesses on the other hand are not left out too. As a matter of fact, they lose more than small and medium scale businesses at $824,750 on average. There was a 50% increase in attacks than the previous year.

[Source: BusinessNewsDaily, SmallBusinessTrends]

What Industry did Ransomware Attacks Target the Most?

Ransomware Attacks Target the Most

The education sector is where attackers wreak havoc the most with 44%. In 2021 alone, 88 attacks were meted on more than 1,000 schools, colleges, and universities, disrupting operations according to research.

Instances that these incidents affected some educational institutions were one in which Buffalo School system in New York had no option but to halt virtual learning and in-person for 34,000 students for one week in March 2021.

Retail follows up with the same 44% of attacks. In July a supply chain attack on software provider Kaseya affected 1,500 businesses. Businesses and professional services were hit with 42% in the same year.

[Source: TechTarget]

What are the 10 Largest Data Breach in History?

The Cam4 data breach is by a wide margin the biggest data breach of all time. It involves 10.88 billion accounts. The rest of the involve Yahoo, with 3 billion amounts in 2013. Aadhar, 1.1 billion in 2018. First American Financial Corporation 885 million accounts 2019. Verification.io, 763 million accounts. Facebook has 540 million breached accounts in 2019.

Marriott had 500 million accounts in 2018. AdultFriendFinder saw an account breach of 412.2 million in 2016. MySpace had 360 million in 2013.

In May 2021, a cybersecurity analytics firm, Cognyte witnessed a data breach of 5 billion. The report says that 40% of data breaches in 2020 come from indirect attacks. In addition, 86% of data breaches across all industries are financially motivated.

[Source: FinancesOnline]

What is Cybersecurity Market Worth?

Cybersecurity Market Worth

In 2018, Cybersecurity stood at $114 billion. In 2019, it hit $129 billion. The global cybersecurity market was worth $176.50 billion in 2020. At the moment (2022), it is worth $173.5 billion, and it is projected to hit $266.2 billion in 2027 at a compound annual growth rate of 8.9%.

Some of the factors that are responsible for the increase in the Cybersecurity market include target-based cyberattack that causes operational disruptions, Cybersecurity Mesh Architecture (CSMA) gaining popularity, and the increasing demand for Cyber savvy boards. The cybersecurity market is forecasted to hit $504.46 billion by 2030, with a Compound Annual Growth Rate (CAGR) of 9.8% from 2022 – 2030.

[Source: MarketsAndMarkets, PolarisMarketResearch]

What are the Most Targeted Industries by Cyber Attackers?

Between November 2020 and October 2021, the professional sector was the most targeted industry by cyber attackers using Malware. The industry witnessed 1,234 attack incidents during the aforementioned period making it rank first among global industries targeted by Malware attacks.

Most Targeted Industries by Cyber Attackers

  • The information industry followed with 775 Malware attacks.
  • Next is the manufacturing sector with 621 attacks.
  • Finance was faced with 509 attacks.
  • Public administration witnessed 505 cyber attacks.
  • The education sector had 437 attacks.
  • Health care (368).
  • Retail (325).
  • Transportation (232).
  • Mining and utilities (222).
  • Offer services (100).
  • Entertainment (94).
  • Real estate (88).

Clearly, none of the industries come close to the professional sector concerning cyber attacks in this period.

[Source: Statista]

What Countries were Mostly Targeted During the Pandemic?

On average, the amount of cyber attacks reaches 100 million per month. The cybersecurity company detected and blocked over 639 million cyber attacks in 1 and Q2 2020. A study shows that Germany, the United States, and France are the most targeted countries.

April saw the highest of cyber attacks so far. The month witnessed about 130 million attacks and scams detected. Going by the number of attacks, Germany tops the list of countries targeted by cyber attackers with over 90.9 million.

  • The United States witnessed 62.2million attacks.
  • France (54.7 million).
  • Indonesia (30.9 million).
  • Egypt (21.7 million).
  • Ireland (18.6 million).
  • Italy (18.6 million).
  • Philippines (15.9 million).
  • Taiwan (14.5 million).
  • Brazil (13.7 million).

[Source: Gatefy]

What is the Impact of COVID-19 on Cyber Attacks?

The era of COVID-19 was a sober year for the whole world when every country and institution had to shut down and go into lockdown to mitigate the spread of the disease. Companies too had to show their employees work from home and that gave a rise to cyberattacks. Attacks shot up by 400% since COVID-19.

During the Pandemic, Google was reported to be blocking 18 million phishing and Malware emails related to COVID-19, weekly. Hackers used this period to send phishing emails to unsuspecting victims to lure them into getting their information.

Most of the emails authoritative government organizations such as the CDC and WHO. Spam has increased by 6000% since the start of the Pandemic. As of March 2020, spear-phishing email attacks increased by 667%.

[Source: TechJury]

What is the Cost Prediction of Cyber Attacks?

Cost Prediction of Cyber Attacks

Cyber attack affects businesses of all sizes and any industry. During the Pandemic, Cyber attacks increased by 600% which meant that the security of many businesses was at stake. The cost of cyberattacks is forecasted to reach $10.5 trillion in 2025.

In 2015 (10 back from the predicted year rise), the cost of cyber attacks stood at $3 trillion in 2015. The cost of cyber attacks stood at $6 trillion in 2021. If that were to be measured as a country's GDP, it would be the largest economy after US and China.

[Source: ITpro]

What is the Growth Rate of Cyber Attacks Over the Years?

In 2021, the average number of cyber-attacks and data breaches increased by 15.1% from 2020. It cost businesses $6.9 billion in the same year. In 2019, Capital One had over 106 million records containing financial information stolen by cybercriminals. In that same year, there were 29 zero-day Malware attacks.

In 2020, there was a Twitter breach that saw attackers cart away $121,000 through over 300 bitcoin transactions. That is the same year when 38 zero-day attacks were recorded. In the same 2020, Magellan Health was struck by a Malware attack and data breaching which resulted in 365,000 getting affected by the sophisticated cyberattack.

In 2021, Kaseya suffered a Ransomware attack compromising up to 1500 companies with a paid whopping ransom of $70 million.

[Source: Forbes, Purplesec]

How Much do Hackers Earn?

Hackers Earn

Hackers are of different types, while white hat hackers are concerned with testing to see what part of the cybersecurity infrastructure is vulnerable, black hats are the direct opposite. They hack to wreak havoc and perpetrate crime. Am ethical hacker earns a range of $35,160 to $786,676 and a median salary of $168,948.

Certified ethical hackers make between $168,948 and $374,847 with the top 86% earning $786,676. Black hats, on the other hand, earn much higher as a high cybercriminal earns over $2 million annually. “Mid-level” Black hats earn about $900,000 annually—more than twice the salary of the United States president. The “entry-level” make at least $40,000—more than what a UK graduate is earning.

[Source: InfoSecurity]

What Country's Organisation Got Hit the Most in Europe?

More than 81.4% of UK organizations have experienced at least one cyber attack in 2021. This is an increase compared to the previous year's finding of 71.1%. It will interest you to know that the UK is not the worst hit country by cyber-attacks, Colombia is. Colombia has the worst hit with 93.9%.

Turkey follows with a little lower at 93.7%. Spain had a hit of 91.8%.  More recent research shows that Ukraine is the most hit European country with about 280,000 cyber attacks meted on the country in the first ten months of 2021. In 2020, it was at 397,000. The high rate of attack could be linked to the war between the country and Russia.

[Source: TheGuardian, Comparitech]

How Much of Counties' IT Budget are Spent on Cyber Security?

Firms allocate a portion of their IT budget to cybersecurity to ensure safety and protect themselves against unforeseen attacks. By country, Brazilian firms are the biggest spender on cybersecurity with an allocation of 15.6% of their IT budget.

Turkey spends 15.3%. Saudi Arabia (15.0%). Colombia (14.4%). USA (13.7%). China (13.6%). Mexico (13.3%). South Africa (13.1%). Spain (11.9%). Canada (11.9%). Italy (11.6%). Singapore (11.4%). UK (11.3%). Japan (11.2%). Australia (10.9%). Germany (10.8%). France (10.7%). The security budget range from France's 10.7% to Brazil's 15.6%.

The United States is the fourth highest spender, while the United Kingdom is the fifth lowest spender on cybersecurity.

[Source: Comparitech]

How Many Percent of Organisations Paid Ransome to Cyber Attackers in 2020?

In 2020, a cybersecurity survey showed that 68% of organizations in the United States were attacked with Ransomware and paid ransom to Cyber attackers due to this. 10% were affected by Ransomware but did not pay ransom. And 22% were not affected at all. The University of California at San Francisco paid $1.14 million in Bitcoin to hackers to free its systems after a month-long attack in June 2020.

The Ransome was initially pegged at $3 million but the institution bargained and ended up paying the aforementioned amount. Currency exchange, Travelex, paid $2.3 million in 2019 to attackers before they freed its systems. The chemical distribution company, Brenntag, paid $4.4 million.

[Source: ITGovernance]

How Many Percent does Phishing Account for in Cyber Attacks?

According to Verizon's Data Breach Investigation Report, 25% of all data breaches are involve phishing and 25% involve the human element. According to a recent report, a sample of 3 million collected over a period of 3 months submitted their login information to attackers 45% of the time.

Read phishing attacks has a 0.000564% chance of attracting a victim, but due to a large number of attacks, the figure becomes significant. 45% of bank customers divulged their information to phishing sites.

According to a Vailmail Fraud Email Report, 1.2% of emails sent per day are fraudulent. Converting that amount to the number of emails, that is about 3.4 billion fake emails sent daily.

[Source: ZDNet, Clario]

What is the Cost of Data Breach?

Between 2020 and 2021, the average cost of a data breach increased by 2.6%, with a figure from $4.24 million to $4.31 million. Factoring in the work-from-home phenomenon during the coronavirus Pandemic, the cost of data breaches increased by almost $1 million to $4.99 million.

The health care sector is the highest cost-incurring industry. In 2022, the health care sector is paying an average of $10.10 million, an increase of 9.4% over what they spent in the previous year (2021). Hybrid cloud environment data breaches cost an average of $3.80 million compared with $4.24 million in a private cloud environment.

[Source: UpGuard]

What Country is the Most Affected by Stalkerware Globally?

Stalkerware comes to mind when it comes to spying on people's online activities such as browser history, social media posts and photos, and offline activities such as text messages. It has posed a threat because it is used to alter mobile users' data during the attack. Globally 32,694 people are affected by Stalkerware.

According to data by Kasperky, the three most affected countries are Russia, Brazil, and United States with 7541, 4807, and 2319 respective affected users. The rest of the affected countries are India (2105).  Germany (1012). Iran (891). Algeria (665). Turkey (660). Mexico (657). Egypt (640). Conclusively, by far, Russia stands as the most affected country by Stalkerware.

[Source: SecureList]

How Many Data Breaches were Caused by Insider Threat?

Insider threats can come in different types, and in varying degrees of damage they can cause to data breaches. A study reveals that negligent insiders are the most common type of Insider threat and account for about 62%. The ones who have their account stolen account for 25% of all data breach incidents.

Finally, malicious insiders—ones who people think are mostly responsible for breaches—account for only 14%. 60% of companies have experienced at least 20  insider cyberattacks in a year.

Meanwhile, 68% of organizations are now aware of the possible cyber attack that could come from an Insider, and these attacks are more frequent over the past 12 months.

[Source: FinancesOnline, Tessian]

How Many Cyber-Attack Complaints did the FBI Receive in 2020?

Cyber-Attack Complaints did the FBI Receive in 2020

The Federal Bureau of Investigation (FBI) Internet Crime Complaint Center received over 3,600 complaints related to COVID-19 scams. Initially, as of March 2020, the figure was 1200 but skyrocketed to over 3000 within the space of one month. Most of which are COVID-19-related, impersonating authoritative government agencies or soliciting charity donations.

Their real motive is to send Malware into the services of unsuspecting victims to wreak havoc. The total criminal reports for the year totaled 791,790, an increase of over 300,000 from 2019 which led to a loss of $4.2 billion.

[Source: FBI, TechJury]

How Much do Remote Works Account for in Average Cost of Attacks?

A recent study carried out by IBM and the Ponemon Institute has determined the quantity of rising cost of cyberattacks as workers moved to remote environments during the Pandemic. The report says in 2021, the average cost of a data breach is $4.24 million, an increase from $3.86 million. However, remote work was a key factor in the data breaches; the cost increased by $1.07 million. It also increased its frequency by 238%.

A recent study revealed that 74% of organizations with a high rate of cybercrime can be linked to remote work tech vulnerabilities. During this period, hackers knew that most organizations would be working from home, and within a short time, more than 1,000 companies in the United States, and at least 17 other countries, were under attack from hackers.

[Source: InsuranceInformationInstitute, GlobeNewsWire, BBC]

What is the Chief Cause of Cyber Attacks?

Chief Cause of Cyber Attacks

According to IBM research, human error is the chief cause of cyberattacks. It accounts for 95% of all cyber breaches. 19 out of 20 cyberattacks shouldn't have happened if there was no human error. These errors could be caused by some things such as negligence by skilled personnel, or carelessness of users.

For instance, in the UK, almost 50% of workers trust public WiFi hotpots and 14% of users in the UK do not lock their phones. A large number of people are guilty of using weak passwords which is also an element of human error.

A 2021 report by NordPass covering 50 countries shows that over 103 million use the popular password 123456 for many of their logins for the second year running. Other weak passwords are 123456789 (used by 46 million people), “qwerty” (used by 22.3 million), and “password” (used by 20.9 million people).

[Source: Comparitech]

How Many Days does it Take Most Companies to Identify a Data Breach?

IBM data shows that, on average, it takes companies about 197 days to identify and 69 data to deal with a breach. This long amount of time in containing a breach cost companies a lot of money. Therefore, companies that contain a breach in less than 30 days will be saving a whopping $1 million compared with companies that can't.

It is important that companies quickly disclose a breach to their customers, lest they face lawsuits from them and independent agencies, which would intimately lead to a fine. In the US, the cost of notifying customers about a cyber breach hack costs about $740,000.

Altogether, a data breach cost an average of $3.86 million, excluding money lost during the hack.

[Source: Varizons]

What is the Monthly Cyber Attack on Mobile Users Worldwide?

Mobile users are not left out of the cyber attack problems but virtue of their ability to connect to the Internet. In December 2021, the number of global mobile cyber attacks was approximately 2.2 million, a decrease of over 62% from that of 2020.

Cyber attacks on mobile users have reduced since 2020. This is after it saw a yearly peak of nearly 6.4 million in October 2020. The following table further shows the number of cyber attacks on mobile users worldwide from December 2020 to December 2021.

Monthly Cyber Attack on Mobile Users Worldwide

Year/Month Number of Cyber Attacks

(In Million)

2021-12 2.2
2021-11 2.3
2021-10 2.3
2021-09 2.5
2021-08 3.1
2021-07 3.8
2020-06 4.2
2021-06 4.4
2020-07 4.5
2020-02 4.5
2021-02 4.7
2020-03 4.7
2020-04 4.8

[Source: Statista]

What is the Average Annual Cost of Cyber Attacks?

Cyber attacks have, in one way or another, caused companies' costs. This cost could be a ransom to retrieve their website or to retain and maintain their reputation. In 2018, the average annual cost of cyber attacks in the United States reached the sum of $27.37 million. Japan ranked second with a cyber attack cost of $13. 57 million per year.

However, the financial sector was most affected by a cyber attack, with the banking sector incurring $18.37 million yearly. The table below shows the cost of cyber attacks on companies in selected countries in 2018.

Countries Average Cyberattack Cost (In Millions)
Australia 6.79
Brazil 7.24
Italy 8.01
Spain 8.16
Canada 9.25
Singapore 9.32
France 9.72
UK 11.46
Germany 13.12
Japan 13.57
US 27.37

[Source: Statista]

How Many of Companies Folder Have Protection?

According to 99firms, only 5% of company folders have protection. The statistics indicate that many companies do not have proper security for their folders, and thus are prone to cyberattacks at any time. Other statistics show that 22% of all folders in a company are accessed by its employees. This means that companies' folder security could be compromised at by their employers. 53% of companies found out that about 1000 files were accessible to all employees.

A good way to protect your company files is to beware of the possibility of the hack by your employees and to let them know you are monitoring them

[Source: 99firms]

How do Malware Reach Targets?

Malware Reach Targets

In 94% of cases, Malware is distributed to targets by email. This is achieved through sophisticated email phishing as it poses a soft target for them, and even the savviest of Internet gurus could fall, victim.  Malware statistics show that there are over 1 billion Malware programs out there, and 560,000 Malwares are detected every day. 46% of hackers distribute Malware to their victims through email.

This Malware could be in MS Word, Excel, and other formats, according to a 2020 Data Breach Investigation Report by Verizon. Email is your most vulnerable avenue for attacks. Research shows that 97% of users cannot identify phishing spam. Despite associating phishing with Nigerian princes, 40% of phishing is carried out in the US.

[Source: 99firms, ClearedIn]

How Much Budget was Earmarked for Cybersecurity in the US?

The Biden administration set aside 9.8 billion dollars to secure federal civilian networks and national infrastructure in its 2022 budget.  Cybersecurity and Infrastructural Security Agency (CISA) will see a budget increase of $500 million. The newly formed office of the National Cyber Director within the White House will be given $15 million to work with. And $20 million will be put aside for Cyber Response and Recovery Fund.

This will serve as an aid in grant form to companies that have been hit by a cyber attack. Currently, President Joe Biden has earmarked the 2023 cyber security budget at $10.9 billion for civilian cyber-related attacks, an increase of 11% from that of 2022.

[Source: SecurityWeek]

How Much is Being Spent in Cyber Security Worldwide?

In 2004, the global cybersecurity market was worth only $3.5 billion, but right now, it is one of the largest, fastest-growing sectors in the information economy. This growth is owed to the increase in the awareness of cyber attacks by businesses, and the need to secure their protect their digital businesses, IoT (Internet of Things), and consumers.

These protective moves will consequently increase global cybersecurity spending cumulatively to $1.75 trillion for the five-year period of 2021 to 2025. A 15% year-over-year growth rate.

Global cybersecurity spending is set to hit $23 billion by the end of 2022, according to research by ABI. Cybersecurity spending is expected to increase at a compound annual growth rate of 10% to hit $36.67 billion by 2027.

[Source: CybercrimeMagazine, InsuranceBusiness]

How Many Web Attacks are Financial Institution Targeted With?

Web Attacks are Financial Institution Targeted

Finance was one of the most attacked industries in 2020, accounting for about 23% of all cyberattacks in the year. Attacks that came through applications are 42%, while 31% were web applications, and 12% account for reconnaissance. Over 736 million Web Attacks are directed at financial institutions out of 6.3 billion web attacks reported in 2020.

Location file inclusion, being the number one type of web attack, account for 52%. SQL injection attacks follow with 32%, and lastly, cross-site attack accounts for 9%. Web and app attacks, when put together, account for 73% of attacks on finance. The reason for the rise in app attacks could be linked to the emergence of COVID-19 when organizations moved their activities online.

[Source: Cloudwares]

What are the Consequences of Cyber Attacks Worldwide in 2022?

Consequences of Cyber Attacks Worldwide in 2022

Surely, some consequences come with being attacked, and it is not only about a dip in the organization's finance. In a 2021 online survey carried out by Statista, involving 5,181 respondents, 30% of respondents pointed out that the cost of notifying customers is the major consequence of an attack.

In the United States, this cost alone is around $740,000. 27% indicated that the impact on brand reputation is.  Loss of customers (22%). Greater difficulty attracting new customers (22%). Insolvency (21%). Substantial fine (20%). Loss of business partners (16%). Although cost is the most focused on, there is certainly another form of loss that organizations have to deal with when faced with an attack.

[Source: Statista]

What is the Unemployment Rate for Cybersecurity?

The cybersecurity unemployment rate is 0%, constant since 2011. What this means is that there is a job waiting for people who are skilled in cybersecurity at all times. In fact, Cybersecurity ventures reported that there will be 3.5 million unfilled job vacancies globally in the cybersecurity field by the end of 2021.

Cybersecurity jobs are laden with juicy salaries, the more reason why they are desirable. An average cyber security specialist rakes in about $90,000 while other regular average worker earns about $40,000.  The reason for the availability of jobs is the increased rate of cybercrime. The COVID-19 Pandemic saw a 400% upshoot in the number of cyber-attacks which will cost the world about $6 trillion in 2021.

[Source: CyberSN, StartUp]

Is Cryptocurrency a Target for Cyber Attacks?

Like some of the industries highlighted earlier in this article, the crypto industry has had its fair share of attacks, much of which results in huge losses. According to analyzed data by the Atlas VPN team recently released, crypto criminals have stolen $1.97 billion from about 175 crypto project hacks in the first half of 2022.

The figure rose from the first half of 2021 at 90 project hacks to 175 in 2022. The ecosystem targeted the most is the Etherium ecosystem which lost over $1 billion in 32 attacks. Binance ecosystem was not spared as a total of 47 attacks in the first quarter of 2022 led to a devastating loss of $141.4 million, the highest among all networks.

[Source: BusinessDay]

Hacking Tricks to Avoid Hacking


With the five-year prediction of $10.5 trillion from 2021 – 2025, it is a strong warning signal to organizations to tighten up their security infrastructures otherwise, they would be counting their losses in millions of dollars.

If you own a business with an online presence, you should consider hiring a cybersecurity expert to help ensure your business data are safe. And if you are an individual contemplating getting skilled in cybersecurity, remember there is a 0% unemployment rate, which means the industry is waiting for you with wide open arms.

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