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10 frightening facts about Cybersecurity in 2021 👻

cybersecurity facts

Ah…Traditions !
It’s good to have some.
And it’s also good to laugh at bad things sometimes!
That’s why we’re starting one by reading and compiling the most interesting (and frightening) facts about cybersecurity in 2021.

Note: 
Most of the data shown below are taken from the Ponemon Institute and Verizon DBIR 2021 reports, and other sources are linked directly in the text.

Let’s dive into the spooky facts ! 👻

infography_10_Facts

Fact 1:  85% of breaches caused by humans

Humans are the weakest link.
A human error causes 85% of breaches in cybersecurity= email misdelivery, poor password hygiene, inadequate or deployed patching, poor access control.

Fact 2: +10% rise of data breach cost

The cost of data breach is increasing.
In 2021, the average total cost of a data breach increased by nearly 10% year over year, the most significant single-year cost increase in the last seven years. It now sits at
$4.24 million.

Fact 3: The highest ransom paid is…$40 million

Ransomware can be really expensive.
One of the biggest insurance companies in the US, 
CNA Financial, paid $40M in ransom after being locked out of its network for two weeks in March.

Fact 4: Cyber crimes represent 1% of world GDP

Cybercrime is a fast-growing international industry.
Cybercrime costs the world economy more than $1 trillion, or just over 1 per cent of global GDP. This put global losses at close to $600 billion. The annual cost of cybercrime is projected to be $10.5 trillion by 2025. For instance, one of the leading hacker groups, DarkSide, reportedly accumulated $90M in Bitcoins in the total amount of ransoms from 47 Bitcoin wallets.

Fact 5: 7,27% fall in stock prices following a breach incident

Cyber attack impact stock market.
There’s an average fall of 7.27% in stock prices following a breach incident. Analysis of the closing share prices of 28 New York Stock Exchange-listed companies showed that these companies hit the lowest point nearly 14 market days after a breach incident. This also equates to -4.18% NASDAQ underperformance.

Fact 6: 66% of CISOs feel unprepared to cope with coming attacks

CISOs feels unprepared.
66% of CISOs feel they’re unprepared to cope with a cyberattack on top of experiencing a lack of understanding from other C-executives.

 

Fact 7: A cyber-attack occurs every 39 seconds

An ever growing number of attack.
Cybercrimes increased by nearly 300% last year following the COVID-19 outbreak and a cyber attck occurs every 39 seconds

Fact 8:  Ransomware occurence increase about 10% per year

Ransomware is growing and getting costlier.
attacks are on the rise! Their occurrence increased about 10% year on year. 
They cost an average of $4.62M, which is also increasing from last year.

Fact 9: 44% of cyber professionals feel the skill shortage is getting worse

Skill shortage and competition is increasing.
44% of surveyed professionals in cybersecurity feel like the skill shortage in their field is only getting worse. 95% of all the respondents haven’t noticed any improvement at all. 
About 33% of respondents in cybersecurity said their organization could be doing much more to address the cybersecurity skills shortage.

 

Fact 10 : 212 days to identify a breach on average 

Identifying a breach takes way too long.
Average time to identify and contain a breach in 2021 was 212 days, plus 75 days to contain them. That’s a total of 287 days, on average.
Of course, the longer you take to identify and contain the breach, the costlier it is. Thus, data breaches with a lifecycle superior to 200 days had an average cost of $4.87M, compared to $3.61M when under 200 days.

You know what to do now… Maybe try to tell your colleagues that 1234 is still not a good password..!

Paul-Arthur Jonville

CEO of Mindflow. I share our thoughts and vision about cybersecurity and how Mindflow can answer current issues on this blog.

About Mindflow

Mindflow is an agnostic and no-code SOAR making cybersecurity more accessible to face current challenges. It aims to break silos between technologies and teams, following Fusion center and Cybersecurity Mesh concepts.

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