Cyber Alert: What You Need to Know About Cybersecurity In 2021

2020 was a rather challenging year in the world of cybersecurity as the year broke all records when it came to data lost in breaches and sheer numbers of cyber-attacks on companies, government, and individuals. The year also saw an increase in the sophistication of threats due to the application of emerging technologies such as machine learning, artificial intelligence, and 5G, and especially from greater tactical cooperation among hacker groups and state actors.

The noteworthy cybersecurity stats for 2020 have been grouped into the following: The State of readiness, Types of cybersecurity threats, The Economics of Cybersecurity, and Data at Risk.

The stats that make up the state of readiness are:

• 78% Lack Confidence in Their Company’s Cybersecurity Posture
• On average, only 5% of companies’ folders are properly protected.
• Cyber Attacks More Likely to Bring Down F-35 Jets Than Missiles
• Nearly 80% of senior IT and IT security leaders believe their organizations lack sufficient protection against cyberattacks despite increased IT security investments made in 2020 to deal with distributed IT and work-from-home challenges, according to a new IDG Research Services survey commissioned by Insight Enterprises.
• Data breaches have lasting financial effects on hospitals, report suggests “More than 90 percent of all healthcare organizations reported at least one security breach in the last three years.
• Identity theft spikes during the pandemic.

The statistics for the types of cybersecurity threats experienced last year are: 

• Malware increased by 358%
• Phishing attacks account for more than 80% of reported security incidents.
• Google has registered 2,145,013 phishing sites as of Jan 17, 2021.
• Ransomware Victim Every 10 Seconds in 2020
• 1 in 5 Americans Victim of Ransomware
• Attackers disrupting COVID-19 efforts and critical supply chains.
• Ransomware, Phishing Will Remain Primary Risks in 2021
• Netscout Threat Intelligence saw 4.83 million DDoS attacks in 1H 2020.
• Dragos: ICS security threats grew threefold in 2020.

What data is at risk?

• Cybercrime to Cost the World $10.5 Trillion Annually By 2025
• The number of Internet-connected devices is expected to increase from 31 billion in 2020 to 35 billion in 2021 and 75 billion in 2025.

When it comes to the economics of cybersecurity, the following statistics would leave you speechless: 

• Cybercrime to Cost the World $10.5 Trillion Annually By 2025
• Every minute, $2,900,000 is lost to cybercrime and top companies pay $25 per minute due to cybersecurity breaches.
• The average cost of a data breach is $3.86 million as of 2020.
• Cybersecurity Market Forecasted to Be Worth $403B by 2027.

Reference: https://www.forbes.com/sites/chuckbrooks/2021/03/02/alarming-cybersecurity-stats——-what-you-need-to-know-for-2021/?sh=7c28c24a58d3