29 Cybercrime Statistics You Might Have Missed in 2020
Ever wonder why everyone’s making such a big deal out of cybersecurity?
Here’s the scoop:
Cybercrime statistics and trends suggest that the number of cybersecurity threats increases each day, faster than we can handle. And it’s not just large enterprises that should be worried about malicious hackers. Every single one of us must be wary of our actions online.
Don’t be alarmed:
There’s no need to stop using the internet entirely. We can protect ourselves and our data by being aware of the threats in the digital landscape.
That’s why we’ve compiled the latest cybercrime statistics to help you understand the dangers of online threats and the need for a proper defense.
Let’s take a closer look, shall we?
Fascinating Cybercrime Statistics:
- Cybercrime will cost as much as $6 trillion annually by 2021.
- 67% of businesses detected at least one cybersecurity attack in 2005.
- In 2018, 77% of successful data breaches were fileless attacks.
- The number of malware variants that are designed to attack mobile devices increased by 54% in 2017.
- Ransomware attacks on businesses occur every 14 seconds in 2019.
- 43% of cybersecurity attacks are directed at small businesses.
- Hacker attacks occur every 39 seconds.
We here at Leftronic.com like to get to the bottom of the stats pool. Let’s dive in together:
The Cost of Cybercrime Statistics
Cybercrime involves criminal activities that take place online. Each year, these grow in size and complexity. And as the threats become increasingly harder to resolve, the costs of cybercrime will continue to rise.
1. The cost of cybercrime will reach $6 trillion annually by 2021.
(Source: Cybersecurity Ventures)
Businesses spend millions to protect their systems from cybercriminals and millions more to address the damages they’ve caused.
Cybercrime damages will amount to a staggering $6 trillion annually starting in 2021, as indicated in Cybersecurity Ventures’ cybercrime statistics 2017. That means they will exceed annual costs for natural disasters. Not only that, this data means that cybercrime is becoming more profitable than the illegal drug trade.
Back in 2015, the global cost of malicious activities amounted to $3 trillion.
2. Financial losses reached $2.7 billion in 2018.
The FBI launched the Internet Crime Complaint Center in 2000 so that the public can report online criminal incidents and seek help from the right authorities. According to the annual FBI cyber crime statistics report, the IC3 received 351,937 complaints in 2018.
Financial losses reached $2.7 billion. Of all the reported crimes, the most financially devastating threats involved investment scams, business email compromises, and romance fraud.
3. Seeing an 11% increase in financial losses, the average cost of cybercrime for the banking industry is significantly higher than for any other industry.
Cybersecurity is a serious matter. Malicious activities cost the banking industry an average of $18.37 million, according to Accenture’s recent cyber crime statistics for 2018.
That number is up from $16.55 million in the previous year. In other words, cybercrime costs the banking more than any other industry.
4. Malware attacks cost organizations an average of $2.6 million.
Compared to other types of cybercrimes, malware continues to be the most financially damaging. As of 2018, financial losses due to malware added up to $2.6 million, which is up from $2.4 million in the preceding year.
International Cybercrime Statistics
No country is immune to the dangers of the online world. So, some establish special laws against online criminal activities to make it safer for their citizens and businesses.
5. Bangladesh saw the highest number of malware infections.
Of all the countries studied by Comparitech, Bangladesh saw the highest rate of mobile malware attacks. Approximately 35.91% of the country’s mobile users have fallen victim to malware infections, as indicated in recent cybercrime damage statistics.
6. Japan is the most equipped country at preventing cybersecurity threats.
The same study revealed that Japan is the most cyber-secure nation. It had the smallest number of mobile malware infections, with only 1.34% of its mobile users affected by the attacks. The country protects its people from cybercriminals through policies and legislation, as well as cybersecurity solutions.
7. Algeria is the least cyber-secure country.
The most high-risk country for cybersecurity threats is Algeria, global cybercrime statistics show. Comparitech’s study showed that it lacked the legislation to protect its citizens from security threats, and it also saw high rates of computer malware attacks.
8. Global spending on cybersecurity measures is expected to exceed $1 trillion over the next two years.
(Source: Cybersecurity Ventures)
The ever-growing number of cybercrimes will drive up global spending on cybersecurity solutions and services. Cybersecurity Ventures estimates it to exceed $1 trillion by 2021.
Statistics of Cybercrime in the USA
Due to the wide adoption of the internet in the US, the country faces a growing number of security threats each year. On the bright side, consumers and businesses are becoming more aware of online risks.
9. Hackers strike every 39 seconds.
(Source: Clark School)
A study conducted at the University of Maryland’s Clark School found that hackers attack online computers and devices every 39 seconds on average. What’s more, they found that using non-secure usernames and passwords increases hackers’ chance of success.
10. 446.5 million records were exposed due to security threats.
Cybercrime statistics for 2018 in the USA recorded 1,244 data breaches, which is down from 1,632 cases from the preceding year. The number of attacks might have significantly decreased; however, more records were breached in 2018.
In fact, around 446.52 million records were exposed compared to 197.61 million in 2017.
11. According to cybercrime statistics, malicious insider attacks take the longest to resolve, averaging 68.9 days.
US organizations take about 68.9 days to resolve an attack caused by malicious insiders, making it the longest security threat to deal with.
12. By 2023, nearly half of the world’s data breaches will be focused on the US.
(Source: PC Mag)
Cyber crime increase statistics indicate that hackers will steal around 33 billion records in 2023. This represents a massive 175% increase from 2018, which saw 12 billion compromised records.
In addition, the US is expected to become a more prominent target of security threats during this time. It’s suggested that nearly 50% of all global breaches will occur in the country starting in 2023.
13. 23% of Americans have fallen victim to a cyber attack.
Gallup’s study in 2018 revealed that roughly 23% of Americans claim they or someone from their household have had their personal, financial, or credit card information stolen by cybercriminals. It’s a 2% decrease from the previous year.
14. The number of identity fraud victims decreased to 14.4 million in 2018.
(Source: Javelin Strategy & Research)
A Javelin Strategy & Research study shows that there were fewer identity fraud victims in 2018 compared to the previous year. It dropped from 16.7 million to 14.4 million.
15. 25% of fraud victims reported financial losses in 2018.
(Insurance Information Institute)
There were three million reported identity theft and fraud cases in 2018. Of that number, 1.4 million involved fraud. Meanwhile, 25% of fraud victims claimed their financial losses weren’t reimbursed.
Although the number of fraud incidents has decreased, 3.3 million people suffered heavier financial burdens. The figure shows a threefold increase since 2016.
16. US data breaches cost an average of $8.19 million.
In the US, data breaches cost two times more than the global average. An IBM report suggests that the average cost of a data breach in the country is $8.19 million.
Cybercrime Prosecution Statistics
Hackers are skilled at covering their tracks, making it harder for authorities to apprehend them and bring them to justice.
17. 18 cybercrime investigations were opened in 2018.
The IC3 received an average of 900 reports per day. On the other hand, only 18 investigations were launched in 2018. In the most recent report, the FBI listed arrests, convictions, and indictments under its accomplishments.
18. There were six convictions in 2010.
The FBI’s 2010 report specified that they had 122 open investigations, which led to 31 arrests, 6 convictions, 55 search and seizure warrants, and 17 grand jury subpoenas.
Cyber Crime Statistics for Businesses
Every industry is at risk of cybercrime.
That being said, some are more prone than others due to a number of factors:
The data they handle, their business model, their customer base, and the technologies required to protect their system are all key. So, knowing the threats that we’re up against can help us optimize our resources and maximize our security.
19. 43% of all nefarious online activities are directed at small businesses.
According to the latest hacking statistics, no business is too large or too small for cybercriminals. Most small businesses lack the resources to set up robust security systems, which make them ideal targets.
Verizon’s annual report on data breaches suggests that 43% of all breaches were aimed at small businesses.
20. 67% of businesses detected at least one cybersecurity incident in 2005.
(Source: Bureau of Justice Statistics)
The Bureau of Justice Statistics found that two-thirds of survey respondents detected at least one cybersecurity threat. In the same 2005 cyber crime statistics report, the BJS also indicated that roughly 60% of businesses identified one or more types of online criminal activities.
Most businesses failed to report cybercrime incidents to proper authorities.
21. Small businesses with fewer than 500 employees lose an average of $2.5 million due to security breaches.
The financial consequences of a data breach can be devastating for small to mid-sized companies. They suffer an average of $2.5 million in losses, which can be crippling for a company that earns less than $50 million or less annually.
22. Verizon lists 87 cybercrime incidents for the Accommodation and Food Services sector.
The total number of breaches in the Accommodation and Food Services sector has decreased in the past year, according to cybercrime statistics for 2019. Of all the reported incidents, the three most frequent were Point of Sale intrusions, crimeware patterns, and web applications, which accounted for 93% of the breaches the sector has encountered.
23. Ransomware attacks on businesses are expected to happen every 14 seconds.
(Source: Cybersecurity Ventures)
Cybersecurity Ventures suggests that businesses are at risk of ransomware incidents every 14 seconds in 2019. This doesn’t include security attacks on individuals, which are expected to occur at a more frequent rate.
Cyber Crime Facts and Statistics
It’s vital to keep up to speed with the latest trends in cybersecurity in this ever-evolving digital landscape. Given that cybercrime has become an everyday concern for individuals and businesses alike, we should be more wary of our actions online. Not only that, we should start adopting good security practices to make us less susceptible to cyber threats.
24. 77% of successful security incidents in 2017 were fileless attacks.
(Source: European Union Agency for Cybersecurity)
If you want to know how to prevent cyber crime, you should know all about the threats in the current landscape. Cybercriminals don’t always have to use malware to infiltrate a system.
As a matter of fact, fileless attacks made up a massive 77% of all successful security incidents in 2017, making them 10 times more likely to succeed than any file-based threat.
25. Mobile malware threats increased by 54% in 2017.
New threats enter the mobile space each day. In 2017, there was a 54% increase in mobile malware variants. In the year before that, approximately 24,000 malicious mobile threats were blocked every day, according to cybercrime statistics in 2016.
26. Speed and efficiency can significantly reduce the total costs of a data breach.
A company’s breach response speed and efficiency can lower its financial losses. IBM’s report suggests that it takes companies an average of 206 days to identify a breach and another 73 to address it.
Companies that were able to do all that in less than 200 days spent $1.2 million less than the total cost of their data breach, based on IBM’s statistics of cybercrime.
27. Cryptojacking is one of the most common remote access attacks in 2018.
Remote access attacks are becoming more frequent.
Cryptojacking, a malicious activity involving the hijacking of a device for the purpose of mining cryptocurrency, is one of the top three most common types of remote attacks. And it’s expected to become an even bigger problem in the years to come.
This illegal form of crypto mining has increased by an incredible 459%, according to cyber crime statistics 2018.
28. 70% of cybersecurity attacks are aimed at computers and laptops.
Over the years, desktops and laptops have been the most vulnerable devices to security threats, with 70% of all breaches aimed at them. Other high-risk devices include smartphones, tablets, and wireless access points.
29. Ransomware attacks account for 24% of malware-related incidents.
A ransomware attack is a form of malware, which blocks the target’s access to data until a ransom has been paid. Cybercriminals either threaten to publish the data online or delete it forever if the victim doesn’t pay the fee.
All of these online threats aren’t going to disappear anytime soon. In fact, as studies have shown, they’re expected to grow in number, reach, and complexity in the coming years.
In this ever-changing world, cybersecurity awareness goes a long way. So, pay attention to the latest trends and security solutions through the most recent cybercrime statistics.
Whether in business or in our personal lives, cybersecurity awareness can empower us to make simple yet effective countermeasures to prevent breaches and keep our data safe from prying eyes.
See you around, guys!
- Cybersecurity Ventures
- Cybersecurity Ventures
- Clark School
- PC Mag
- Javelin Strategy & Research
- Insurance Information Institute
- Bureau of Justice Statistics
- Cybersecurity Ventures
- European Union Agency for Cybersecurity