Submitted by CyberHub Summit on Wed, 09/05/2018 - 10:48
Five Staggering Stats for Cyber Security in 2018
Five Staggering Stats for Cyber Security in 2018

There is nothing more impressive (and of course slightly obnoxious) than the guy at the party who knows everything. Well, you don't have to know everything, but keeping a few recent cyber trivia facts at your fingertips is always a conversation starter and evidence that you have your eye on the ball.   Amaze your friends and spout off Cyber Security facts from 2018.

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Five Facts for 2018

Fact 1

The cost of an average data breach will cost over $150 million by 2020, according to data from Juniper Research.

Juniper research are claiming that the cost of a data breach will skyrocket as companies grow and the use of the internet widens to include the vast majority of companies worldwide. With statistics currently standing at $3.8 million as an average company cost (Microsoft figures) the jump does seem pretty extravagant over a two-year period.  However, when we consider, the huge increase is really a reflection of the increase in 'mega breaches' where 1 - 50 million records are lost which cost between $40-$350milion it seems far more reasonable.

IBM Security and Ponemon provided details from over 500 interviews with companies that had fallen victim to data breaches and these predicted costs include: technical investigations, recovery, regulatory requirements, lost clients and damaged reputation, which for larger firms run into the multi-millions, think Equifax.

Fact 2. 

1 in 131 emails contains a malware.

This figure is also expected to rise, as hackers increasingly use ransomware to make profit from cybercrime.  Although this number to some degree, doesn’t sound horrifically high, when we consider that, DMR reports show that the average office worker receives 121 emails per day, that’s almost a malware a day, per office worker, indicating an almost daily cyber security threat for each company.

Fact 3. 

Businesses take an average of 197 days to notice a breach on the network. 

This suggests that Fact 1, may in fact be an understatement in its scope, as we really don’t and won't know the status of current company breaches for another six months. It also reflects the inability of every day business operations to keep up with penetrations.

The Ponemon 2017 Data Breach Study (which actually argued that it was in fact 206 days for US firms) further suggested that the longer it takes to discover a breach, the more expensive it is.  Ponemon suggested that companies should aim to discover breaches within 100 days. 

For breaches that take longer than this, the average cost increases from a whopping $5.99 million to a shocking $8.7million.

Fact 4. 

 43% of cyber-attacks target small businesses.

Although the headlines are usually filled with conglomerates suffering from mega hacks, exposing client data in the millions, a huge proportion of attacks hit small companies. The cost to the smaller companies is of course, comparatively larger as whilst they may not have to worry excessively about reputation (cyber-attacks could happen to anyone), the recovery of data and return to every day operations are much more likely to be crippling. 

Fact 5.  

By 2021, there will be at least 3.5 million vacant cyber security jobs 

This projection is based on both the increase in cyber-crime, which is set to rise to $6trillion by 2021 and current employment figures, university placements, vendors and active cyber security professionals across the world.  

Cybersecurity Ventures who published the report, claimed that "The cybersecurity workforce shortage is the biggest security risk ..faced by organizations globally " and with $1.1 million lost to cyberattacks every 60 seconds, according to RiskIQ, alleviating the financial burden of cyber-attacks will have to include a massive increase in the number of professionals working in the field .