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2019 Cybersecurity Stats Should Alarm Every Single Business Owner

Discover current cybercrime statistics and trends to learn how to protect your business from data breaches, ransomware attacks, malicious emails and more.  

Cybercrime is becoming more organized, more dangerous and far more common than it was even just a few years ago. The following are some eye-opening stats that show the dangers companies face when allowing IT vulnerabilities to remain unchecked.

Who is Being Targeted?

Cybercriminals may have gotten famous targeting large companies such as Yahoo, Marriott and eBay; however, they are more likely to target small companies with insufficient IT security than large corporations with dedicated IT teams. Recent stats show that half of all cybercrime victims for the year 2019 are small business owners.

At the same time, there is really no business or industry that is safe from cyberattacks. That is why IBM chairman Ginni Rometty recently stated that cybercrime is the greatest threat to every company in the world.

What are Cybercriminals’ Favourite Tools?

Ransomware seems to be a favorite tool. At present, a ransomware attack occurs every 14 seconds. What is more, ransomware attacks are growing by a staggering 350% each year.

Email attacks are also a commonly used tactic. Email is presently responsible for over 92% of all malware attacks. Furthermore, more than 90% of data breaches start with a spear-phishing email. Microsoft Office extensions and archive file format extensions are the most commonly used malicious file extensions, making up 75% of all malicious file extensions used by cybercriminals to gain access to a company’s data. Additionally, Symantec’s ISTR 2019 report recently found that nearly one in every 300 emails sent to a public administration organization is malicious in nature.

What is the Damage?

Ransomware attacks alone are expected to cost businesses $11.5 billion this year. What is more, an organization can spend up to $50,000 dealing with a DOS attack or lose up to more than $17,200 per minute dealing with unplanned downtime. Furthermore, more than half of all businesses do not have the finances needed to recover from a cyberattack.

Thankfully, there are a number of tried and proven ways to avoid becoming a cybercriminal’s next victim. These include:

  • Providing ongoing cybersecurity training to employees to help them recognize common cyberattacks
  • Backing up information on a regular basis so you don’t have to pay a cybercriminal to regain access to your invaluable data
  • Use strong passwords that include upper- and lower-case letters, symbols and numbers

It’s also wise to work with an IT service provider that can provide you with ongoing assistance and cutting-edge IT tools needed to keep your business safe from cybercriminals at all times.

OnServe has more than thirty years of experience providing IT managed services to companies in the Kingston and Brockville areas. Our services include managed IT, cybersecurity, mobile security and management, VoIP and cloud hosting. Get in touch with us to learn more or to make an appointment with our team of certified, experienced IT technicians.