01 Jul 15 Cybercrime Statistics You Ought To Know
This week in cybersecurity from the editors at Cybercrime Magazine
– Read the Full Story in The Independent
Sausalito, Calif. – Jul. 1, 2024
Unless you live off-grid and offline, you’ll be familiar with cybercrime. It’s likely you’ve even been the victim of a cyberattack already — though you might not be aware of it.
The Independent, a London-based media outlet, reports that money is a huge motivation for cyberattacks around the world. According to Steve Morgan, editor-in-chief at Cybersecurity Ventures, if cybercrime was measured as a country, it would be the world’s third-largest economy, behind the U.S. and China.
According to Cybersecurity Ventures, damage costs are set to increase by 15 percent per year until 2025 where estimates predict that global expenditure on cybercrime could reach $10.5 trillion USD, and ransomware alone could cost victims (consumers and organizations) around $265 billion USD (£212 billion) annually by 2031.
The Independent shares 15 cybercrime statistics that put the threat in perspective.
Costs resulting from cybercrimes are not just fraud on a public or private company level; the impacts can be expansive. Pauses in productivity, lawsuits from data compromises and long-term effects of stolen business intelligence for organizations, not to mention reputational harm, all add up.
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