The modern economy is driven by data. No matter the sector, businesses rely heavily on the information they create, compile, and share. From the transport industry and media, to the biotech space and IT services, data underpins everything. Unfortunately, the bad guys know it, too.
As Avasek has seen all too often, company systems and networks are constantly being targeted by malicious actors, determined to get access to valuable internal data so it can be exploited in a myriad of ways. From trade secrets to client contact books, hackers have developed a broad array of technical skills to pry information right out of a firm’s hands. With this in mind, we’ve compiled a list of 10 breach statistics so you can better understand the risks your business faces.
1. The average cost of a U.S. company data breach is roughly $9.5 million.
According to a recent IBM study, data hacks cost firms in the United States an average of 9.44 million. In fact, U.S. businesses spend the most recovering from such breaches.
2. Data breaches impacted almost 300 million individuals in the U.S. last year.
Data compiled by Statista shows data records for over 298 million U.S. residents were illicitly accessed last year. Healthcare, financial services, and manufacturing were the most targeted industries.
3. Criminal organizations were behind 55% of cyber breaches in 2020.
A report from Verizon states more than half of data breaches in 2020 were orchestrated by criminal gangs, who were mostly driven by the potential financial gains. However, the study also notes secondary motivations were also a prominent factor, concluding many hacks were part of bigger, more complex schemes.
4. In 2020, misconfiguration errors played a role in over 40% of data breaches.
Verizon found an increasing number of malicious actors exploited misconfiguration errors in 2020. The report notes misconfiguration can include systems administrators forgetting to set cloud storage bins to private.
5. U.S. organizations lost about $50 million in ransomware attacks in 2021.
The FBI says it heard from over 3,700 businesses last year whose data was locked up by malicious attackers. The agency notes cybercriminals strong-arm companies into paying ransoms by threatening to make proprietary information public or even destroy it all together.
6. 48% of malicious email attachments are presented as Microsoft Office files.
As this statistic from a Symantec study shows, it’s important for all staff to remain vigilant about what they download and open. And of course, with Microsoft tools being such a huge part of company culture for four decades, it’s no surprise hackers rely on this trick to get into networks.
7. On average, hackers attack every 39 seconds.
Researchers at the University of Maryland have demonstrated just how relentless malicious actors can be. As the study shows, many networks have to be robust enough to fend off over 2,200 hack attempts every single day.
8. 83% of breached companies experience additional attacks.
As IBM’s data suggests, a company that suffers a data breach is highly likely to be targeted again. The study notes a majority of hacked firms had to increase prices to help recover costs.
9. 96% of businesses have been targeted by phishing emails.
A 2022 study by Mimecast shows a vast majority of companies received phishing emails over the preceding 12 months. The report also notes 80% of firms expect to have to deal with the fallout from a breach originating via email.
As the statistics show, for companies, data breach threats are not only persistent, they are extremely costly. Fortunately, Avasek is an experienced leader in helping businesses both defend and recover from such devastating attacks. Find out more about how Avasek can assist your operation today so that you’re not picking up the pieces tomorrow.