{"id":11752,"date":"2019-11-14T14:33:54","date_gmt":"2019-11-14T19:33:54","guid":{"rendered":"https:\/\/www.thesslstore.com\/blog\/?p=11752"},"modified":"2023-07-06T11:22:44","modified_gmt":"2023-07-06T15:22:44","slug":"33-alarming-cybercrime-statistics-you-should-know","status":"publish","type":"post","link":"https:\/\/www.thesslstore.com\/blog\/33-alarming-cybercrime-statistics-you-should-know\/","title":{"rendered":"33 Alarming Cybercrime Statistics You Should Know in 2019"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"social-media-is-playing-a-growing-role-in-cybercrime-this-year-\u2014-here-are-the-top-cybercrime-stats-to-know-about-this-15-trillion-and-growing-industry-as-we-move-into-2020\">Social media is playing a growing role in cybercrime this year \u2014 here are\nthe top cybercrime stats to know about this $1.5 trillion (and growing)\nindustry as we move into 2020<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re looking for the most up-to-date cybercrime statistics, you\u2019ve certainly come to the right place. (We really like our numbers around here.) <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For businesses and organizations, cybercrime is all\nencompassing \u2014 and its collective impact is staggering. Not only does\ncybercrime leave a mark financially, but it also has a significant impact on an\norganization\u2019s services, reliability, and reputation in the eyes of the public,\nshareholders, and even your own employees. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this article, we\u2019ll break down what cybercrime entails\nand take a look at some of the most notable cyber crime statistics and trends\nfor 2019. We\u2019ll also dive into some of the trends and stats the experts are\npointing to for 2020 and the next few years to come. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s hash it out.<span id=\"newline\"><\/span><\/p>\n\n\n\n<div class=\"wp-block-advanced-gutenberg-blocks-summary\"><p class=\"wp-block-advanced-gutenberg-blocks-summary__title\">What we&#8217;re hashing out&#8230;<\/p><div class=\"wp-block-advanced-gutenberg-blocks-summary__fold\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" class=\"feather feather-chevron-up\"><polyline points=\"18 15 12 9 6 15\"><\/polyline><\/svg><\/div><ol role=\"directory\" class=\"wp-block-advanced-gutenberg-blocks-summary__list\"><li><a href=\"#social-media-is-playing-a-growing-role-in-cybercrime-this-year-\u2014-here-are-the-top-cybercrime-stats-to-know-about-this-15-trillion-and-growing-industry-as-we-move-into-2020\">Social media is playing a growing role in cybercrime this year \u2014 here are\nthe top cybercrime stats to know about this $1.5 trillion (and growing)\nindustry as we move into 2020<\/a><ol><\/ol><\/li><li><a href=\"#what-is-cybercrime\">What is Cybercrime? <\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-how-much-money-are-cybercriminals-making\">Cybercrime Statistics: How Much Money are Cybercriminals Making?<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-the-top-methods-of-attack-and-related-cybersecurity-concerns\">Cybercrime Statistics: The Top Methods of Attack and Related Cybersecurity\nConcerns<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-who-are-the-victims\">Cybercrime Statistics: Who Are the Victims?<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-top-industries-targeted\">Cybercrime Statistics: Top Industries Targeted<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-the-worldwide-costs-of-cybercrime\">Cybercrime Statistics: The Worldwide Costs of Cybercrime<\/a><ol><li><a href=\"#cybercrime-prevention-costs\">Cybercrime Prevention Costs<\/a><ol><\/ol><\/li><li><a href=\"#costs-resulting-from-damages\">Costs Resulting from Damages<\/a><ol><\/ol><\/li><\/ol><\/li><li><a href=\"#cybercrime-statistics-the-role-of-cybercurrencies-in-cybercrime\">Cybercrime Statistics: The Role of Cybercurrencies in Cybercrime<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-cybercriminals-love-social-media\">Cybercrime Statistics: Cybercriminals Love Social Media<\/a><ol><\/ol><\/li><li><a href=\"#cybercrime-statistics-predictions-and-trends-in-the-coming-years\">Cybercrime Statistics: Predictions and Trends in the Coming Years<\/a><ol><li><a href=\"#why-cybercrime-and-related-activities-are-so-important-to-study\">Why Cybercrime and Related Activities Are So\nImportant to Study<\/a><ol><\/ol><\/li><\/ol><\/li><\/ol><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"what-is-cybercrime\">What is Cybercrime? <\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/05\/Prevent-Cybercrime-Feature-1024x683.png\" alt=\"How to prevent cybercrime\" class=\"wp-image-10554\" width=\"366\" height=\"244\" srcset=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/05\/Prevent-Cybercrime-Feature-1024x683.png 1024w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/05\/Prevent-Cybercrime-Feature-300x200.png 300w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/05\/Prevent-Cybercrime-Feature-768x512.png 768w\" sizes=\"auto, (max-width: 366px) 100vw, 366px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Also called computer crime, the term \u201ccybercrime\u201d is very broad term and represents a wide variety of criminal activities that are conducted by using and\/or targeting a computer or related system. <a href=\"https:\/\/www.merriam-webster.com\/dictionary\/cybercrime\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Merriam-Webster defines cybercrime<\/a> as: \u201c<strong>:&nbsp;<\/strong>criminal activity (such as fraud, theft, or distribution of child pornography) committed using a computer especially to illegally access, transmit, or manipulate data.\u201d <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This type of definition now\nincludes virtually any type of electronic devices. Cell phones. Cameras. IoT\ndevices. Servers and databases. The list goes on and on. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some cybercriminals conduct\ntheir business via the dark web but not all. Some choose to use more public\nchannels such as social media. And, certainly, the examples listed in this\ndefinition are not exhaustive. There are many other examples of cybercrime,\nincluding: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>ransomware attacks, <\/li>\n\n\n\n<li>malware attacks, <\/li>\n\n\n\n<li>crypto mining, cryptojacking, and\nother digital currency scams,<\/li>\n\n\n\n<li>identity theft, or impersonating\nanother person or company, <\/li>\n\n\n\n<li>stealing, leaking or\nmanipulating data, information, or intellectual property,<\/li>\n\n\n\n<li>violating privacy, <\/li>\n\n\n\n<li>human and sex trafficking, and<\/li>\n\n\n\n<li>selling weapons or drugs online.\n<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">There are certainly other types\nof cybercrimes to include on this list. But we know you\u2019d jump right into the\ncybercrime statistics info.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With that in mind, here\u2019s our list of the top cybercrime statistics we\u2019ve collected for the year 2019.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Cyber Crime \u2013 One of the Biggest Threats to Global Security\" width=\"960\" height=\"540\" src=\"https:\/\/www.youtube.com\/embed\/-DniRDbZ_Es?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-how-much-money-are-cybercriminals-making\">Cybercrime Statistics: How Much Money are Cybercriminals Making?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Cybercrime represents the fastest-growing types of crime in\nthe United States \u2014 and the world as a whole. Not only are the cyber attacks that\nfall within this category growing in number, but they\u2019re also increasing in\nboth size and sophistication. This results in an increasingly large price tag\nfor governments, businesses, and organizations of all sizes. It also means\nbusiness is booming for cybercriminals. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In our previous article on <a href=\"https:\/\/www.thesslstore.com\/blog\/2018-cybercrime-statistics\/\">cybercrime statistics in 2018<\/a>, we discussed a six-month study by Bromium, an endpoint security company, and cybercrime researcher Dr. Michael McGuire. The report, titled \u201cInto the Web of Profit,\u201d examines the new platforms used by cybercriminals in the flourishing cybercrime economy. This year, the company released another report \u201c<a href=\"https:\/\/www.bromium.com\/press-release\/cybercriminals-earning-over-3b-annually-exploiting-social-platforms\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Social Media Platforms and the Cybercrime Economy<\/a>,\u201d and it serves as the next chapter in the Into the Web of Profit series. Only this time, it examines the role social media platforms play in the world\u2019s cybercrime economy.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ll cover some statistics from both of these reports \u2014\nalong with others from many reputable organizations, companies, and government\ninstitutions \u2014 throughout this article. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1 \u2014 The cybercrime industry generated at least $1.5\ntrillion in revenue in 2018 (and that\u2019s a conservative estimate!)<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The first <a href=\"https:\/\/www.bromium.com\/press-release\/hyper-connected-web-of-profit-emerges-as-global-cybercriminal-revenues-hit-1-5-trillion-annually\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">cybercrime report<\/a> by Bromium and McGuire estimates that cybercrime created more than $1.5 trillion in profits in the year 2018 alone. However, it\u2019s critical to note that McGuire openly admits that those estimates may not paint a complete picture \u2014 that the estimates are conservative, and the numbers may actually skew higher. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But even if we were just to go by this number, it\u2019s terrifying to think of just what that entails. If cybercrime was a country, it would rank 13th in terms of its GDP when considering the <a href=\"https:\/\/data.worldbank.org\/indicator\/NY.GDP.MKTP.CD?most_recent_value_desc=true\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">most recent (2018) GDP data<\/a> from the World Bank. This would place it firmly between the Republic of Korea, which currently has a GDP of $1.6 trillion, and Australia, which has a GDPR is a little more than $1.4 trillion. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2 \u2014 Social media-enabled cybercrimes generate $3.25+\nbillion in global revenue per year<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The social media-focused research from Bromium and McGuire indicates\nthat social media plays a growing role in perpetuating cybercrime. According to\nthe research, social media-enabled crimes generate at least $3.25 billion to\nthe growing cybercrime economy each year. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To put that in perspective, that\u2019s nearly the net worth of movie mogul Steven Spielberg, whose net worth is estimated to be $3.6 billion, according to <a href=\"https:\/\/www.forbes.com\/forbes-400\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">The Forbes 400 list for 2019<\/a>. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>3 \u2014 Social media contributes to the sale of stolen\npersonal data in an underground economy that\u2019s now worth about $630 million per\nyear <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s no secret that cybercriminals use the dark web and other\nvarious channels to engage in criminal activities. But did you know that these\nactors use social media to steal your personal information? As far as\ncybercrime statistics go relating to social media, Bromium\u2019s study data\nindicates that between 45% to 50% of all illicit trading of personal information \u2014\nthis includes everything from stolen credit card info to usernames and\npasswords \u2014 can be traced back to breaches of social media platforms.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>4 \u2014 $76 billion of the cybercrime economy involves\nBitcoin<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bitcoin definitely appears to be the reigning champion when it comes to being the favorite cryptocurrency of cybercriminals. A <a href=\"https:\/\/papers.ssrn.com\/sol3\/papers.cfm?abstract_id=3102645\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">research study<\/a> from two universities in Australia indicates that \u201caround $76 billion of illegal activity per year involves bitcoin (46% of bitcoin transactions), which is close to the scale of the US and European markets for illegal drugs.\u201d <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>5 \u2014 4.1 reported records exposed in the first half of\n2019<\/strong> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/pages.riskbasedsecurity.com\/2019-midyear-data-breach-quickview-report\">Risk Based Securit<\/a><a href=\"https:\/\/pages.riskbasedsecurity.com\/2019-midyear-data-breach-quickview-report\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"y (opens in a new tab)\">y<\/a><a href=\"https:\/\/pages.riskbasedsecurity.com\/2019-midyear-data-breach-quickview-report\"> reports<\/a> that in the first six months alone, 4.1 billion records were exposed via data breaches in 2019.&nbsp; Now, keep in mind, this number doesn\u2019t even include data breaches that went unreported or undiscovered. This means that there could potentially be millions more exposed records that we just don\u2019t know about. Not very comforting, is it?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But with these cybercrime stats in mind, what are some of\nthe statistics of cybercrime relating to how they perform their attacks? <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-the-top-methods-of-attack-and-related-cybersecurity-concerns\">Cybercrime Statistics: The Top Methods of Attack and Related Cybersecurity\nConcerns<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are numerous types of cyber attacks that criminals are\nusing to achieve their goals. These types of attacks range include everything\nfrom hacking and phishing to distributed denial of service, SIM-swapping, and\nransomware attacks. Regardless of their chosen method of attack, though, it\u2019s\nessential for your business to implement cyber security awareness training as part\nof your prevention and risk mitigation methods. &nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, what are some of the top cybercrime statistics relating\nto attack methods?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>6 \u2014 85% of organizations reported experiencing phishing\nand social engineering attacks <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Phishing and social engineering attacks are now as common as wearing flip-flops in Florida (thongs or sandals for you international readers) <a href=\"https:\/\/www.accenture.com\/\">Accenture Security\u2019s<\/a> 2019 \u201cThe Cost of Cyber Crime\u201d annual report indicates that the number of organizations that reported experiencing phishing and social engineering attacks increased 16% year over year. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>7 \u2014 Malware ranks as the most costly type of attack for\norganizations<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accenture Security\u2019s 2019 report indicated that malware cost\norganizations an average of $2,613,952 in 2018. This is an increase of 11% over\nthe previous year. The next most costly type of attacks were web-based attacks,\nwhich cost an average of $2,275,024 per year in 2018.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/06\/Malware-VPNs.png\" alt=\"graphic: cybercrime statistics concerning malware\" class=\"wp-image-11010\" width=\"301\" height=\"301\" srcset=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/06\/Malware-VPNs.png 566w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/06\/Malware-VPNs-300x300.png 300w\" sizes=\"auto, (max-width: 301px) 100vw, 301px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\"><strong>8 \u2014 Three-quarters of businesses report insider threats as\na significant concern<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Data from KnowBe4\u2019s <a href=\"https:\/\/blog.knowbe4.com\/knowbe4-2019-security-threats-and-trends-report-october-2019\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">2019 Security Threats and Trends global survey<\/a> of 600 organizations indicates that \u201c76% of organizations say the biggest and most persistent security threat comes from \u2018the enemy from within.\u2019\u201d This describes careless end users who regularly endanger organizations by engaging with phishing emails, ransomware, malware, and other dangerous content. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>9 \u2014 96% of survey respondents report email phishing scams\nas the top security risk<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The same KnowBe4 report also indicates that nearly all of\nthe survey\u2019s participants identify email phishing scams as the greatest\nsecurity threat to businesses. And considering that nearly half of the survey\nparticipants also indicated that they\u2019re worried about their organization\nfalling victim to targeted scams, it serves to further underscore the\nimportance of cyber awareness training. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-who-are-the-victims\">Cybercrime Statistics: Who Are the Victims?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>10 \u2014 An average of 300,000 cybercrime-related complaints\nare received each year by the FBI IC<sup>3<\/sup><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cybercrime doesn\u2019t discriminate. The victims of cybercrime involve individuals, organizations, and businesses alike \u2014 virtually everyone from all walks of life. In its <a href=\"https:\/\/pdf.ic3.gov\/2018_IC3Report.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">2018 Internet Crime Report<\/a>, the FBI\u2019s IC<sup>3<\/sup> reports that the organization receives an average of 300,000 cybercrime-related complaints per year \u2014 that\u2019s an average of 900 complaints per day. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>11 \u2014 Seniors over age 60 are the preferred victims of\ncybercrime against individuals<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Senior fraud scams are increasingly common and result in\nsignificant losses each year. In 2018 alone: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>62,085 victims age 60 or older reported\n$649,227,724 in losses to cybercrime. <\/li>\n\n\n\n<li>An additional 48,642 victims ages 50-59 reported\nlosses of $494,926,300 in the same year.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">That\u2019s a combined amount of more than $1.14 billion in a\nsingle year between these two age groups! However, let me just remind you of\none important thing: This number represents <em>reported<\/em> losses. This means\nthat there are likely many other victims \u2014and much larger losses \u2014 than what we\nknow. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-top-industries-targeted\">Cybercrime Statistics: Top Industries Targeted<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>12 \u2014 More than 22% of ransomware attacks in Q1 2019\ntargeted professional services organizations<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.coveware.com\/blog\/2019\/4\/15\/ransom-amounts-rise-90-in-q1-as-ryuk-ransomware-increases\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Coveware reports<\/a> that professional services \u2014 companies such as certified public accountants and law firms \u2014 were the top choice of ransomware attacks (22.4%) in the first quarter of the year. This was followed by software services (17.2%) and healthcare organizations (10.3%) such as small healthcare providers and specialists. They\u2019re valuable targets to cybercriminals because they are responsible for protecting their patients\u2019 extremely sensitive personal and medical data, yet they\u2019re often under protected and unprepared in terms of IT security and data backups.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To our readers in the healthcare and professional services\nindustries in particular, please pay attention. We don\u2019t want to see your\norganization\u2019s name in domestic or international news headlines. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>13 \u2014 More than 25% of malware attacks targeted banks and\nfinancial services in 2018<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Intsights Cyber Intelligence <a href=\"https:\/\/www.prnewswire.com\/il\/news-releases\/intsights-report-shows-banking-and-financial-services-sector-continues-to-be-targeted-by-external-threat-actors-300839696.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">reported in April<\/a> that more malware attacks (25.7%) targeted global banks and financial services institutions (FSIs) than other industry they tracked that year. Furthermore, their research indicates that there were substantial year-over-year increases in several types of attacks: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>compromised credit cards (212%),<\/li>\n\n\n\n<li>credential leaks (129%) and<\/li>\n\n\n\n<li>malicious apps (102%).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-the-worldwide-costs-of-cybercrime\">Cybercrime Statistics: The Worldwide Costs of Cybercrime<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">When we talk about the \u201ccosts\u201d of cybercrime, this term can\nmean a few different things. Costs typically entail: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>direct financial costs that result from the\ncrime, <\/li>\n\n\n\n<li>indirect costs, or<\/li>\n\n\n\n<li>prevention and mitigation costs. <\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">So, what are some of the top cyber crime statistics by\ncountry? Here are a few to note:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>14 \u2014 The U.S. leads the way with more than $27 million in\nannual costs relating to cybercrime<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">USA! USA!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026 Wait, this isn\u2019t exactly the type kind of title we should\nbe proud of. But it\u2019s still critical information for all of us to know.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Accenture Security\u2019s 2019 \u201cThe Cost of Cybercrime\u201d study\nindicates that there were significant regional differences where cybercrime\ncosts were concerned in 2018. However, the United States continued to hold its\nNo. 1 title with the highest annual costs relating to cybercrime \u2014 $27.4\nmillion, an increase of 29% over the previous year. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>15 \u2014 Cybercrime in the U.K. and Japan rose significantly\n\u2014 31% and 30% \u2014 in 2018<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Accenture Security report also indicates that the\nlargest increase year-over-year increases were experienced by the United\nKingdom (31%) and Japan (30%), respectively. Their annual cybercrime costs\nincreased to $11.5 million (U.K.) and $13.6 million (Japan). While they\u2019re\nstill nowhere near the U.S.\u2019s level of cybercrime annual costs, we\u2019re likely to\nsee these costs continue an upward trajectory. &nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"cybercrime-prevention-costs\">Cybercrime Prevention Costs<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>16 \u2014 The U.S. President\u2019s proposed FY 2020 budget\nrequests more than $17 billion for cybersecurity and cyber operations <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Even with all of the resources at his disposal, thwarting cyber threats and <a href=\"https:\/\/www.thesslstore.com\/blog\/how-to-prevent-cybercrime-9-helpful-tips\/\">preventing cybercrime<\/a> is a huge concern for Uncle Sam. That\u2019s why the United States\u2019 proposed fiscal year budget for 2020, which is available on the White House website, requests \u201c<a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2019\/03\/ap_24_cyber_security-fy2020.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">$17.4 billion<\/a> of budget authority for cybersecurity-related activities.\u201d This is an increase of $790 million (5%) over the FY 2019 estimate. It\u2019s important to note, however, that this amount doesn\u2019t represent the entire cyber-related budget for (obvious) security reasons. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Can\u2019t really blame Uncle Sam for not wanting to hold his\ncards close to the vest, right?<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regardless, here\u2019s a breakdown of some of the disclosed initiatives we do know about in the <a href=\"https:\/\/www.whitehouse.gov\/wp-content\/uploads\/2019\/03\/budget-fy2020.pdf\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">proposed FY 2020 budget<\/a>: <\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$1+ billion to support Department of Homeland\nSecurity (DHS) cybersecurity efforts.&nbsp; <\/li>\n\n\n\n<li>$9.6+ billion to advance the Department of\nDefense (DOD)\u2019s three primary cyber missions.<\/li>\n\n\n\n<li>$156+ million to support \u201cearly-stage research\u201d\nand increase cyber resilience of system for the recently established Office of\nCybersecurity, Energy Security, and Emergency Response.<\/li>\n\n\n\n<li>$13 million for the Department of the Treasury\u2019s\nOffice of Critical Infrastructure Protection and Compliance Policy.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>17 \u2014 The spending on cybersecurity products and services\nanticipated to surpass $1 trillion by 2021<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In its Secure Anchor-sponsored <a href=\"https:\/\/cybersecurityventures.com\/cybersecurity-market-report\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">2019 Cybersecurity Market Report<\/a>, Cybersecurity Ventures reports that global spending on cybersecurity market products and services will exceed $1 trillion cumulatively between 2017 and 2021. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2018 alone, worldwide spending on infosec services and\nproducts surpassed $114 billion \u2014 a market that\u2019s anticipated to grow to $170\nbillion in 2022. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>18 \u2014 Cyber security awareness training expected to reach\n$10 billion by 2027<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Almost every article you read online about cyber security harps on the importance of <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.thesslstore.com\/blog\/how-improving-your-cyber-security-posture-benefits-your-bottom-line\/\" target=\"_blank\">cyber awareness and security training<\/a>. Heck, we\u2019re guilty of that ourselves because we know that training is essential to help mitigate certain cyber threats and vulnerabilities. That\u2019s why it\u2019s not surprising that Cybersecurity Ventures also reports that <a href=\"https:\/\/cybersecurityventures.com\/security-awareness-training-report\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">security awareness training<\/a> is on the rise. However, the number is certainly attention-grabbing: $10 billion by 2027. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This trend is expected to continue through nearly the next\ndecade as cyber-defense strategies become fundamental to more major\ncorporations. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>19 \u2014 30% of survey respondents say their organizations\ndon\u2019t have a separate security budget<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Considering the number of <a href=\"https:\/\/www.thesslstore.com\/blog\/breach-and-attack-simulations-how-to-find-the-gaps-in-your-cyber-defenses\/\">cyber attacks and data breaches<\/a>\nmaking headlines globally each year, it\u2019s hard to believe that some\norganizations don\u2019t place greater importance on their cybersecurity defenses. Unfortunately,\nresearch definitely shows that\u2019s still the case. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For example, KnowBe4\u2019s 2019 Security Threats and Trends\nReport indicates that nearly a third of surveyed organizations don\u2019t separate\ntheir security budget from their annual IT capital expenditure budget. To add\ninsult to injury, about 13% report that they allocate \u201cless than $25,000 on\nsecurity spending\u201d and 50% dedicate \u201cless than or up to 50,000 a year to\npurchase security products, software or security awareness training.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">I have to ask: Have these organizations learned <em>nothing<\/em> from <a href=\"https:\/\/www.thesslstore.com\/blog\/yahoo-breach\/\">Yahoo<\/a>, <a href=\"https:\/\/www.thesslstore.com\/blog\/autopsying-the-marriott-data-breach-this-is-why-insurance-matters\/\">Marriott<\/a>, <a href=\"https:\/\/www.thesslstore.com\/blog\/equifax-data-breach-learn\/\">Equifax<\/a>, or any other major corporations in recent years? It must be a case of \u201cit won\u2019t happen to me,\u201d or what\u2019s also known as <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.vice.com\/en_au\/article\/a3an4a\/it-wont-happen-to-me-the-psychology-behind-optimism-bias\" target=\"_blank\">optimism bias<\/a>. <\/p>\n\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"costs-resulting-from-damages\">Costs Resulting from Damages<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>20 \u2014 Cybercrime damages are anticipated to cost $6 trillion\nper year by 2021.<\/strong> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although we shared this cybercrime statistic in our <a href=\"https:\/\/www.thesslstore.com\/blog\/80-eye-opening-cyber-security-statistics-for-2019\/\">80 eye-opening cyber security statistics<\/a> article earlier this year, we\u2019d be remiss to not at least mention it here.&nbsp; This number, which comes from <a href=\"https:\/\/cybersecurityventures.com\/cybercrime-damages-6-trillion-by-2021\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Cybersecurity Venture\u2019s 2019 Annual Crime Report (ACR)<\/a>, is double their 2015 prediction of $3 trillion in cybercrime costs annually. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>21 \u2014 Cybercrime costs $2.9 million to the global economy\nevery minute<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Research from Risk IQ\u2019s \u201c<a href=\"https:\/\/www.riskiq.com\/infographic\/evil-internet-minute-2019\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">The Evil Internet Minute 2019<\/a>\u201d report indicates that one minute on the internet carries a price tag of $2.9 million to the global economy. In their report, Risk IQ researchers state that top companies pay $25 per minute due to cyber breaches.&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>22 \u2014 More than $26 billion in losses reportedly lost to\nBEC and EAC scams specifically<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The <a href=\"https:\/\/www.ic3.gov\/media\/2019\/190910.aspx\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">FBI\u2019s Internet Crime Compliant Center (IC<\/a><sup><a href=\"https:\/\/www.ic3.gov\/media\/2019\/190910.aspx\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">3<\/a><\/sup><a href=\"https:\/\/www.ic3.gov\/media\/2019\/190910.aspx\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">)<\/a> reports that $26,201,775,589 was exposed in 166,349 domestic and international business email compromise\/email account compromise (BEC\/EAC) scams between June 2016 and July 2019. As far as FBI cyber crime statistics go, this is one of the most important to know. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If current trends continue and these types of scams keep\ngrowing, I\u2019d hate to see what they\u2019re going to report in their next BEC report\u2026<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-the-role-of-cybercurrencies-in-cybercrime\">Cybercrime Statistics: The Role of Cybercurrencies in Cybercrime<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Depending on the side of the (digital) coin you look at,\nthere are positives and negatives to the use of cryptocurrency. Blockchain\ndigital currencies fall outside the control or scope of the European Union\u2019s\nfinancial regulations. As such, it\u2019s challenging for law enforcement and other\ngovernment entities to track \u2014 which is, of course, part of the purpose of\nusing it altogether. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Digital currencies such as Bitcoin, Ethereum, Ripple, Dash and\nothers are attractive options to a variety of individuals. They\u2019re attractive\nto both law-abiding users who want their governments to butt-out and keep more\ncontrol over their money and cybercriminals who want to transfer funds without\ndetection. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, how do these digital funds contribute to the cybercrime\nindustry? Here are some enlightening cybercrime statistics on cryptocurrencies:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>23 \u2014 98% of ransomware payments are made via Bitcoin<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hands down, Bitcoin continues to rank as the leading\ncryptocurrency payment method of choice for cybercriminals. Coveware reports\nthat when actors launched ransomware attacks in Q1 2019, 98% demanded payment\nvia Bitcoin.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>24 \u2014 In 2018 alone, cryptocurrency exchange hacking cost\naround $1 billion<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The hacking of cryptocurrency exchanges is&nbsp; \u201cfar and away the most costly type of crypto crime,\u201d according to a <a href=\"https:\/\/blog.chainalysis.com\/2019-cryptocrime-review\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">report by Chainanalysis<\/a>. Their research tracks two major hacking groups that largely contributed to the theft of these funds during that year. The average cost <em>per hack<\/em> by these groups? A cool $90 million. They achieved this by frequently moving the stolen currency through a complex network of exchanges and digital wallets that involves moving the funds at least 5,000 times. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>25 \u2014 Tens of millions of dollars have been lost to\nSIM-swapping attacks<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SIM-swapping is a crime that involves a criminal transferring a victim\u2019s mobile account to a device they have in their possession. It\u2019s a <a href=\"https:\/\/cybersecurityventures.com\/sim-swap-fraud-the-latest-battle-in-the-war-for-your-identity\/\">met<\/a><a rel=\"noreferrer noopener\" aria-label=\"h (opens in a new tab)\" href=\"https:\/\/cybersecurityventures.com\/sim-swap-fraud-the-latest-battle-in-the-war-for-your-identity\/\" target=\"_blank\">h<\/a><a href=\"https:\/\/cybersecurityventures.com\/sim-swap-fraud-the-latest-battle-in-the-war-for-your-identity\/\">od of attack<\/a> that cybercriminals like to use against people within the cryptocurrency community in particular because it\u2019s profitable. In its <a href=\"https:\/\/cybersecurityventures.com\/cybersecurity-almanac-2019\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">2019 Cybersecurity Almanac<\/a>, Cybersecurity Ventures estimates that these crimes have resulted in tens of millions of dollars of cryptocurrencies being stolen. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-cybercriminals-love-social-media\">Cybercrime Statistics: Cybercriminals Love Social Media<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2017\/10\/iStock-599703424-1024x683.jpg\" alt=\"cybercrime statistics concerning social media\" class=\"wp-image-5158\" width=\"367\" height=\"244\" srcset=\"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2017\/10\/iStock-599703424-1024x683.jpg 1024w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2017\/10\/iStock-599703424-300x200.jpg 300w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2017\/10\/iStock-599703424-768x512.jpg 768w, https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2017\/10\/iStock-599703424.jpg 1254w\" sizes=\"auto, (max-width: 367px) 100vw, 367px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Social media as a useful tool for users and cybercriminals\nalike. For end users, it\u2019s a way to connect with family and friends. For\ncybercriminals, it\u2019s a wealth of information that they can use as part of their\nsocial engineering tactics as well as a platform to launch malware attacks. The\nrisks associated with social media platforms is particularly good for\nbusinesses to know considering that many employees use company computers and\nother devices to access their personal social media accounts. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Heck, maybe you do that yourself during your lunch break.\nAfter all, who doesn\u2019t enjoy watching and sharing a funny cat video or two to\ngive your brain a break in the middle of the day? <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regardless, for this section, we\u2019ve pulled together some\nstatistics from the Bromium social media study and studies by other notable\norganizations to address cybercrime relating to social media. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>26 \u2014 Up to 40% of social media sites have some form of\nturn-key hacking tools or services available for purchase<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The widespread availability of cybercrime tools is a growing\nconcern for SMBs and enterprises alike. Bromium\u2019s research indicates how easy\nit is for even the least knowledgeable cybercriminals to engage in cyber\nattacks with ready-made tools, solutions, training, and hacking-for-hire\nservices:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>One account on Facebook offers the opportunity to trade or learn about exploits and advertises on Twitter to attract buyers. We also found evidence of botnet hire on YouTube, Facebook, Instagram and Twitter, with prices ranging from $10 a month for a full-service package with tutorials and tech support to $25 for a no-frills lifetime subscription \u2013 cheaper than Amazon Prime.\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>27 \u2014 Fraud attacks on social media increased 43% in 2018<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By the end of last year, social media fraud attacks rose significantly. This increase in fraud may be attributed in part to the use of automation tools, <a href=\"https:\/\/community.rsa.com\/yfcdo34327\/attachments\/yfcdo34327\/fraudaction-blog\/43\/1\/RSA%20Quarterly%20Fraud%20Report%20Q3-19.pdf\">RSA Security reports<\/a>. Regardless of the reason, though, it just serves to further emphasize the need for users to be hypervigilant when it comes to their social media activities and security efforts. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>28 \u2014 Fraud revenues increased by 60% since 2017 thanks to\nsocial media <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In short, cybercriminals are having a heyday with social\nmedia. Bromium\u2019s social media data indicates that they\u2019re able to conduct a\nvariety of fraudulent activities using these social networking platforms. For\nexample, they can engage in financial fraud, romance\/dating fraud, and\nimpersonate major brands across all channels including major platforms like\nFacebook, Twitter, and LinkedIn. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>29 \u2014 The data of 1.3+ billion social networking users has\nbeen compromised within the past 5 years<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We\u2019ve all seen the headlines about businesses being breached\nand user accounts being compromised. Social platforms are no different. In\nfact, according to Bromium, the accounts of more than 1.3 million social media\nusers have been compromised in the past five years. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This statistic doesn\u2019t really come as a surprise to me. It\nseems like every couple of months I receive obvious phishing messages from\nfriends\u2019 compromised Facebook accounts. The messages try to get me to click on\na link. Or, I\u2019ll even receive a friend request from a fake account\nimpersonating them that\u2019s trying to add me as a friend. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Nice try, hackers. Keep phishing, \u2018cause I ain\u2019t bitin\u2019. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"cybercrime-statistics-predictions-and-trends-in-the-coming-years\">Cybercrime Statistics: Predictions and Trends in the Coming Years<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are some interesting and notable trends in the cybercrime\nindustry. In an article about cybercrime statistics, we\u2019d be remiss to not at\nleast highlight some of the biggest predictions, forecasts, and trends from\nexperts within the industry. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, without further ado, here are some notable trends and\npredictions of what we can expect to see within the industry over the next few\nyears:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>30 \u2014 Only 15% of firms report being notified by a\nthird-party vendor notifying them of a breach the vendor caused<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A <a href=\"https:\/\/www.esentire.com\/blog\/nearly-half-of-firms-suffer-data-breach-at-hands-of-vendors\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">2019 survey of 600 IT and security decision makers<\/a> by eSentire and Spiceworks shows that of the 250 surveyed companies that indicated experiencing a breach, only 15% were notified of the breach by the respective vendor who caused it.&nbsp; Yeah, that\u2019s some shady business right there.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In some ways, it\u2019s unsurprising that vendors don\u2019t want to\ninform their corporate clients about the data breaches they cause. This could\nbe, in part, due to the reputational risks or accountability involved with\ndisclosing a cyber breach. But regardless of wounded egos or reputational\nconcerns, it\u2019s the responsibility of every vendor to inform their customers of\nany breaches they cause. Shame not everyone likes to live up to such ethical\nstandards. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>31 \u2014 More than 70% of cryptocurrency transactions will involve\nillegal activities by 2021<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cybersecurityventures.com\/meet-cybercrimes-new-market-entrant-cryptocrime\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Cybersecurity Ventures<\/a> predicts that the use of cryptocurrencies for nefarious activities will jump significantly in a little more than a year. The cybersecurity research firm forecasts that these illicit activities will jump from current estimates of 20% of the five major cryptocurrencies by 2021. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>32 \u2014 The amount of data stored in the cloud will increase\n100x by 2021<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s no secret that cloud storage for data is on the rise.\nNo matter whether you\u2019re talking about public clouds, private clouds owned by\nbusinesses, or government ones that are accessible by the public, Cybersecurity\nVentures predicts that the number will increase one hundredfold by 2021. This\nmakes for an incredibly data-rich target environment for cybercriminals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>33 \u2014 Cybercrime breaches are anticipated to increase\nnearly 70% by 2024<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cost of data breaches to businesses is on the rise. <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.juniperresearch.com\/document-library\/white-papers\/the-future-of-cybercrime-white-paper\" target=\"_blank\">Experts expect<\/a> costs (direct and indirect) relating to cybercrime breaches to jump from $3 trillion to more than $5 trillion within the next five years! In their <a href=\"https:\/\/www.juniperresearch.com\/press\/press-releases\/business-losses-cybercrime-data-breaches\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">August 2019 press release<\/a>, Juniper Research indicates that the costs of cybercrime will show an average annual growth of 11%. This data comes from their report \u201cThe Future of Cybercrime &amp; Security: Threat Analysis, Impact Assessment &amp; Mitigation Strategies 2019-2024.\u201d<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"why-cybercrime-and-related-activities-are-so-important-to-study\">Why Cybercrime and Related Activities Are So\nImportant to Study<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">But if computers are so dangerous, why are companies and\nindividuals increasingly reliant on them? It\u2019s because digital technologies and\nthe internet are staples in the modern economy \u2014 and in our modern lives as a\nwhole. They\u2019re essential to not only ecommerce but to other aspects of our\nlives as well \u2014 everything from entertainment to business and government\noperations. Why bother hand-delivering or mailing in a check when you can pay\nbills online? And who doesn\u2019t love the convenience of online banking?&nbsp; <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regardless of how or why we\u2019re all using these things, the fact is\nthat we are using them. And with all the perks of these conveniences and\nbenefits come certain risks as well. This is why businesses, governments, and\nother organizations and institutions need to invest the time, money, labor, and\nattention to addressing cyber security vulnerabilities. Every little bit helps\nin the uphill battle against cybercriminals.&nbsp;\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Social media is playing a growing role in cybercrime this year \u2014 here are the top cybercrime stats to know about this $1.5 trillion (and growing) industry as we move&#8230;<\/p>\n","protected":false},"author":17,"featured_media":11754,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":"","tve_updated_post":"","tve_custom_css":"","tve_user_custom_css":"","tve_globals":{},"tcb2_ready":0,"tcb_editor_enabled":0,"tve_landing_page":"","_tve_header":"","_tve_footer":""},"categories":[16,10200],"tags":[167,9508],"class_list":["post-11752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hashing-out-cyber-security","category-monthly-digest","tag-cybercrime","tag-cybercrime-statistics","post-with-tags"],"views":85352,"jetpack_featured_media_url":"https:\/\/www.thesslstore.com\/blog\/wp-content\/uploads\/2019\/11\/cybercrime-statistics.jpg","_links":{"self":[{"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/posts\/11752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/comments?post=11752"}],"version-history":[{"count":0,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/posts\/11752\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/media\/11754"}],"wp:attachment":[{"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/media?parent=11752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/categories?post=11752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thesslstore.com\/blog\/wp-json\/wp\/v2\/tags?post=11752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}