73 Important Cybercrime Statistics: 2021/2022 Data Analysis & Projections

Cybercrime or computer crime costs United States companies over half a billion dollars annually. Also, data breaches compromise millions of user accounts. In this research report, we will take an in-depth look at cybercrime statistics and see how it impacts businesses and consumers. Furthermore, we’ll explore cybercrime growth statistics, cybersecurity, projections, and other cybercrime data.

Being informed will make you aware that cybercrime can strike just about anyone online. Hence, you must be knowledgeable in IT security software. Also, cybercrime is a compelling reason for you to use backup tools and implement strict security measures. This is especially because, as the COVID-19 pandemic has forced companies to lay down work-from-home policies, many industries now rely on cloud use more than ever. As such, it is pertinent to understand how to protect yourself from cybercrimes.

Statistics on the Cybercrime Landscape

We explore the cybercrime landscape with these cybercrime facts and statistics. The numbers will give you an idea of how widespread cybercrimes are in an increasingly digital and connected world.          

• Among the 13 crimes measured, the top two most worrisome for Americans are cybercrimes. 72% feared computer hackers accessing their personal, credit card, or financial information, and 66% worry about identity theft. (Gallup, 2020)
• Each year since 2001, the monetary damage caused by cybercrime has been increasing exponentially. It already reached around $4.2 billion in 2020. That number does not include damages from unreported cases. (IC3, 2020)
• The United States suffered the most high-profile cyber-attacks with 156 separate incidents between May 2006 and June 2020. (SecurityBrief, 2020)
• Germany, India, Australia, and the United Kingdom have all been targets of significant attacks in the last 14 years as well. (SecurityBrief, 2020)
• These attacks on different countries included assaults on defense agencies, government and federal systems, and prominent tech companies. (SecurityBrief, 2020)
• 4.83 million DDoS attacks were recorded in the first half of 2020. (Help Net Security, 2020)

Data Breach

Data breach gets our attention when we read about billions of personal user information stolen from large companies. In truth, a data breach can happen to companies big or small and can involve data theft of thousands of records.

• In January 2019 alone, 1.76 billion records were leaked from various data breaches around the world. (IT Governance, 2019)
• In the first three quarters of 2020, there were 2,953 reported breaches across the globe. It was a 51% decrease compared to the same period in 2019. (RiskBased Security, 2020)
• However, a staggering 36 billion records were exposed by the end of September 2020, making it the worst year on record in terms of data breaches. (RiskBased Security, 2020)
• 70% of workers said that remote work due to COVID-19 would increase the cost of a data breach. (IBM, 2020)
• The average cost of a data breach on remote work is about $137,000 per attack. (IBM, 2020)
• Remote desktop protocol (RDP) attacks increased by 400% during the onset of the COVID-19 pandemic from March to April of 2020. (Kaspersky, 2020)
• In 2020, it takes an average of 280 days to identify and contain a data breach. (IBM, 2020)
• 45% of breaches are done through hacking. (Verizon, 2020)
• It is followed by errors at 22%, social attacks at 22%, malware at 17%, misuse by authorized users at 8%, and physical actions at 4%. (Verizon, 2020)
• 72% of data breach victims are large businesses. (Verizon, 2020)
• Additionally, 28% of victims are small enterprises. (Verizon, 2020)
• Often, external actors (70%) and organized criminal groups (55%) are behind the data breaches. (Verizon, 2020)
• However, a small percentage of the perpetrators have involved business partners (1%) and multiple attackers (4%). (Verizon, 2020)
• 98% of Internet-of-Things (IoT) devices are unencrypted, which exposes confidential data to attacks. (SecurityBrief, 2020)
• 51% of threats in the healthcare industry are coming from imaging devices. (SecurityBrief, 2020)
• Additionally, 72% of virtual local area networks in the healthcare industry mix IT assets and IoT devices, which allows malicious software to spread rapidly through various end-user devices. (SecurityBrief, 2020)
• A large number of attacks use web applications at 43%. (Verizon, 2020)

Carrier: Email

The top malware carrier is email. Here are the eye-opening facts and figures relating to the infestation of email.

• Cyber attacks through social actions typically use emails as their mode of delivery at 96%. (Verizon, 2020)
• 9.2 million users have reported suspicious emails in 2019. (Proofpoint, 2020)
• Around 29% of users will open phishing emails. (Proofpoint, 2020)
• About 46% of organizations receive emails containing malware. (Verizon, 2020)
• 73% of cloud breaches involve email or web app servers. (Verizon, 2020)
• 5% of malicious data breaches are caused by compromised business emails. (IBM, 2020)

Motivation: Money

For the criminal mind, cybercrime pays. And it pays by the trillions. The majority of cyberattacks, theft, breaches, and other digital crimes are driven by one thing–money.

• Around 86% of the attacks are financially motivated. (Verizon, 2020)
• The worldwide damages of cybercrime are expected to reach to $6 trillion by the end of 2021. (Cybercrime Magazine, 2020)
• It is expected to grow at about 15% every year and will reach around $10.5 trillion by 2025. (Cybercrime Magazine, 2020)

Cybercrime Statistics & Impact on Business

Our cybercrime report sees an increase in data breaches and digital attacks as more businesses go online. The view on cybercrime loss statistics is not favorable. In reality, the cost of cybercrime to companies around the globe is in the billions of dollars. Here’s what you need to know. 

• The global cost of cybercrime reached over $2 trillion in 2020. (Juniper Research, 2019)
• On average, the cost of a data breach for organizations in 2020 is only about $3.86 million. (IBM, 2020)
• The United States has the highest average cost of a data breach at about $8.64 per attack. (IBM, 2020)
• The healthcare industry suffered the most from data breaches with an average cost of $7.13 million. (IBM, 2020)
• Each ransomware attack costs up to $84,116 to pay. (Coveware, 2020)
• 51% of organizations say they are ill-equipped to respond to a cyber attack. (FireEye, 2020)
• Ransomware variants are beginning to target large companies. For example, Ryuk ransom payments reached up to $780,000. (Coveware, 2020)
• 98% of companies who paid the criminals received legitimate decryptors. (Coveware, 2020)
• However, only 97% of encrypted files are recovered on average after companies paid the criminals. (Coveware, 2020)
• Cybersecurity is only the second technological priority among companies around the world at 49%, next to digital transformations at 54%. (Flexera, 2019)
• Targeted distributed denial-of-service (DDoS) attacks are sold for as low as $10 per hour on the dark web. (Privacy Affairs, 2021)
• Small businesses lose on average $200,000 per ransomware incident due to downtime and recovery costs, with many going out of business. (CNBC, 2019)
• Unplanned downtime can cost businesses from $926/minute (low end estimate) up to $17,244/minute (high-end estimate). (phoenixNAP, 2018)

Statistics on Cyber Protection & Security

Cybercrime increase statistics show exponential growth as Internet users add up. Consequently, there has also been an increase in the number of cybersecurity vendors, tools, and spending. Here are developments in cybercrime security and the most common tools for protection.

• Maintaining secure configurations and set-ups for cloud-resident workloads is the biggest challenge that 39% of organizations deal with. (Oracle, 2019)
• Additionally, 38% of companies say that satisfying the standards set by their security teams regarding the security of their public cloud infrastructure is their second biggest challenge. (Oracle, 2019)
• The same number of organizations (38%) treat the maintenance and consistency of security in their data centers as significant concerns. (Oracle, 2019)
• Cloud-related security in event management is also a challenge for 37% of organizations. (Oracle, 2019)
• Artificial intelligence is predicted to play a critical role in increasing cyber protection and cyber attacks. (Forbes, 2020)
• Organizations are expected to spend up to $11.7 million on average to mitigate and protect their assets from cybercrime damages. (Accenture, 2020)
• Around 46% of organizations think that the chief information security officer (CISO) is ultimately responsible for cybersecurity issues. (IBM, 2020)

Anti-Malware

Malware in all its forms has now taken the leap from desktops and laptops to infecting mobile devices. More malware are being introduced into mobile apps as the number of smartphone and tablet users grows. These endpoint devices, as well as networks and apps, can be secured by leading IT security software solutions that can monitor and prevent unwanted intrusions.

• Companies spend an additional $2.4 million on average due to malware attacks. (Accenture, 2020)
• The mobile anti-malware market value was $3.42 billion in 2017. It will grow by 17.9% to reach $9.20 billion in 2023. (Mordor Intelligence, 2020)
• Of the Android malware by type, 96.93% are trojans, 1.67% are password Trojans, 0.67% are exploits, 0.31% are others, and 0.22% are ransomware. (Mordor Intelligence, 2020)
• 93% of mobile transactions in up to 20 markers were considered fraudulent and blocked in 2019. (Secure D, 2019)
• SonicWall, a cybersecurity company detected 9.9 million malware attacks in 2019 alone. (SonicWall, 2020)
• There’s an increase of 13% on global windows malware detection. (Malwarebytes, 2020)

Most Popular IT Security Software

1. Norton Security is an industry-leading antivirus and security software for Mac, PC, and mobile devices. It offers multi-layered data protection, VPN for online privacy, and Dark Web monitoring. Our Norton Security review discusses its complete features.
2. Trend Micro Home Network Security provides a high-performance intrusion prevention system to protect all Internet-connected devices you have. It secures devices and protects confidential data using AI-powered security technology.
3. Cloudflare is a scalable and easy-to-use security software that provides firewall, DDoS protection, bot management, and more. It uses a global and integrated Anycast network to power its DNS service. You can find out more about its features in our Cloudflare review.
4. Avira Antivirus Server is a powerful cloud-based protection with a resource-light technology that ensures strong server security. It also has a file server protection that secures all confidential data on your servers. This Avira Antivirus Server review discusses its complete features.
5. Malwarebytes is a cybersecurity software that uses multiple layers of protection like anomaly detection, application hardening, and behavior matching. Its security technology prevents malware infection and cleans up an infected machine flawlessly. Learn more about its complete features and other important details in our Malwarebytes review.

Data Backup

Backing up data allows you to recover important information and files in case of unexpected incidents. It is a good practice that can easily be undertaken with the use of data backup software. Here’s how the field is faring.

• $7.13 billion was the value of the data backup and recovery market in 2017. It will grow by 10.2% to reach $11.59 billion in 2022. (MarketsandMarkets, 2017)
• Concern about security and safety is the top reason businesses backup data. Survey shows 61% are concerned about ransomware, another 61% are concerned about social engineering attacks, and 60% about cryptojacking. (Acronis, 2019)
• 97% of businesses back up their data at least once a year. Of these, 86% perform backups monthly, weekly, or daily. (Acronis, 2019)
• According to IT experts, the technologies that bring the most risk in terms of data loss are ransomware (42%), mobility/BYOD (38%), and social media use (9%). (StorageCraft, 2020)
• 39% of small- and medium-sized businesses do not have contingency plans in response to cyber-attacks and data breaches. (Ponemon Institute, 2019)
• Up to 93% of small businesses store their data or backups in the cloud. (Unitrends, 2019)

Virtual Private Networks

The usage of VPN services has grown in recent years with the availability of more VPN providers. Furthermore, there has been an increase in public awareness of its benefits.

• The global virtual private network (VPN) was worth $25.41 billion in 2019.  (Allied Market Research, 2020)
• The VPN global market is expected to grow at a CAGR of 14.7% from 2020 to 2027 and reach up to $75.59 million. (Allied Market Research, 2020)
• 1 in 4 Internet users has accessed a VPN in the last month–17% from desktops, 15% on mobile, and 7% on tablets. (The Best VPN, 2020)
• Of those who accessed a VPN in the last month, 35% did so every day on desktop and 42% on mobile. (TheBestVPN, 2020)
• On VPN use by gender, 62% are male, and 38% are female. By age group, 35% are from ages 16–24, 33% ages 25–34, 19% 35–44, 9% 45-54, and 4% 55-64. (TheBestVPN, 2020)

Projections & Directions

Companies will continue to face the threat of cybercrimes to their business and customers. Here are the current and future preparations.

• From 2020 to 2025, spending on cybersecurity will exceed $1 trillion. (Cybercrime Magazine, 2019)
• The cybersecurity market will grow by 12% to 15% growth through 2021. (Cybercrime Magazine, 2019)
• Microsoft is quietly becoming a cybersecurity leader by acquiring CyberX, a cybersecurity solutions company, for a rough value of $165 million. (The Motley Fool, 2020)
• Experts expect a cyber-attack attempt every 11 seconds in 2021, which is twice the rate back in 2019. (Cybercrime Magazine, 2019)

Important Takeaways from Cybercrime Statistics

Our cybercrime statistics underscore the need for preparation by businesses. Cybercrime is becoming pervasive, and hackers have become bolder. There is just no limit to organizations that they can target. Indeed, both small and large businesses can be on cybercriminals’ crosshairs as long as there are vulnerabilities. To profit from data, identity, and financial information is an overpowering motivation for criminals.

What businesses can do is implement more stringent security measures and set more safeguards. This is especially important for those that allow employees to perform remote work due to the pandemic as well as those that let employees use their own laptops and mobile devices for work. Moreover, they can utilize big data storage and backup solutions. In truth, no one is really safe from expert hackers and determined cybercriminals. However, having strong defenses and protection can give them second thoughts about their intentions. The lesson has always been: better safe than sorry.

References:

1. Allied Market Research (2020, May). Virtual Private Network (VPN) Market by Component (Solution and Services), Deployment (On-Premise and Cloud), End User (Commercial, Individual and Others), Application (Access VPN, Intranet VPN, Extranet VPN and Others): – Global Opportunity Analysis and Industry Forecast, 2019–2026. Allied Market Research
2. Coveware (2020, January 23). Ransomware Costs Double in Q4 as Ryuk, Sodinokibi Proliferate. Coveware
3. Dobran, B. (2018, August 16). 2020 Disaster Recovery Statistics That Will Shock Business Owners. phoenixNAP
4. IBM (2020). Cost of a Data Breach Report 2020. IBM
5. IC3 (2021). Amount of monetary damage caused by reported cyber crime to the IC3 from 2001 to 2020. IC3
6. FireEye (2020). FireEye Cyber Trendscape Report. FireEye
7. Flexera (2021, January). Priorities for IT technology initiatives in companies worldwide from 2020 to 2021. Flexera
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9. Gallup (2020, November). Crimes Americans worry about most in 2020. Gallup
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11. Gomez, M. (2021, February 25). Dark Web Price Index 2020. Privacy Affairs
12. Help Net Security (2020, September 20). 4.83 million DDoS attacks took place in the first half of 2020, a 15% increase. Help Net Security
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31. Steinberg, S. (2019, October 13). Cyberattacks now cost companies $200,000 on average, putting many out of business. CNBC
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By Allan Jay

Allan Jay is FinancesOnline’s resident B2B expert with over a decade of experience in the SaaS space. He has worked with vendors primarily as a consultant in the UX analysis and design stages, lending to his reviews a strong user-centric angle. A management professional by training, he adds the business perspective to software development. He likes validating a product against workflows and business goals, two metrics, he believes, by which software is ultimately measured.