9 Alarming Cyber Security Stats to Know in 2023 (Infographic)

The increased use of network traffic, massive generation of data, and insecurity in communication methods…

…create the most favorable ecosystem for cyber criminals to exploit the business.

Today, cyber attacks have become more serious with businesses facing attacks every day, hence cyber security is the need of the hour to stay smart and proactive against possible attacks.

In this blog, we’ve come up with the top 9 cyber security stats of 2023, which urges organizations to adopt the powerful cyber security system to ensure the best security posture for any business.

Click here to check the infographic with relevant stats.

Why Are Cyber Crime Rates Increasing?

Cyber criminals use various methods like phishing, ransomware, spyware, etc. to intrude into the target networks.

This destroys industrial controls, manipulates the data, compromises the data integrity and eventually causes disruption in the way an organization, business, or government functions.

The global annual cost of cyber crime is believed to reach around 10.5 trillion USD by 2025.

Data breaches are even more severe, extracting financial information like account details, Personally Identified Information (PII), intellectual property, trade secrets, and other industry-specific data.

The factors that drive growing cyber crime rates include:

• Distributed web and the huge network
• Cybercriminals find it easy to attack the targets where policing (investigation and identification of the source of theft) is difficult
• Enhanced profitability and commercial growth with the dark web – a private and anonymous web activity which leads to illegal exploitation of data
• Increased usage of Internet, IoT, mobile devices, cloud applications
• Lack of appropriate cyber security measures to prevent possible cyber attacks and threats

Why is Cyber Security The Need of The hour?

#1. Increasing Rate of Cyber Crimes:

Regardless of the size of your business, a cyber attack can affect the organization badly, since it lets the hackers take advantage of the key business assets.

Still, 4 in 10 businesses remain unprepared to keep themselves secure against a possible cyber-attack.

#2. More IoT Devices into Phase:

IoT technology has made lives simple, however, it is an easy way for hackers if not managed effectively.

Since IoT devices use the latest technologies to manage connectivity and data sharing, they offer huge surface areas to let data breaches occur.

#3. Rise in Technology:

Technology has its pros and cons. Cloud services, serverless computing, API services and edge computing make business data management, processing and operations easier.

But attackers intrude and disrupt these networks, which impacts the entire business process of an organization.

#4. Increased Use of Ransomware:

Ransomware blocks the users’ access and demands a ransom payment to decrypt it for the user. It affects any environment – be it IoT, OT, Virtual Systems, or even the cloud.

The consequences of cyber threats are devastating and hence any business should be prepared against these negative impacts through adequate cyber security measures.

#5. Dark Web and Cryptocurrency:

The illegal exploitation of the internet with websites undetectable to search engines keeps users and their activities anonymous.

Also, crypto transactions have become the favorite of attackers – they use sophisticated attacks to steal millions of dollars away from their liquidity pools.

How do Organizations Adopt Cyber Security?

Many organizations take action to ensure they protect critical assets against cyber attacks with the best IT security ecosystem that include:

• Accurate email security practices
• Using strong passwords for every user/application
• Maintaining up-to-date softwares across the business
• Implementing the required IAM solution
• Deploying VPNs to augment remote workers
• High-end security solutions across the processes
• Mandatory security awareness program to educate employees about best practices that guarantee cyber security

Here are the 9 cyber security stats in the form of an infographic for you, to better understand the recent trends and activities in cyber security (source) –

Conclusion:

The absence of a cyber security strategy leaves businesses open to serious threats.

You can no longer depend on just an antivirus or a firewall to stay smart against a cyber attack.

Businesses should instead work with a cyber security firm that helps them to build the perfect cyber security strategy or solution to ensure multilayered protection.