10 Essential Facts About Cybercrime in 2020

October 20th, 2020 by Kevin Lancaster

Don’t start thinking about your strategy to outfox bad actors in 2021 until you see these facts about cybercrime in 2020!

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As we kick off Cybersecurity Awareness Month, let’s take a look at some critical statistics to measure the evolving risk landscape, the effects of a tumultuous year, and how cybercrime can impact your business. Here’s an overview of some important facts about cybercrime in 2020 – plus three illuminating bonus statistics that give you insight into important ways to protect your business from cybercrime.

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10 Essential Facts About Cybercrime in 2020

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• In 2020, 80% of firms have seen an increase in cyberattacks 
• A cyberattack is attempted every 39 seconds
• 700 million people in 21 countries experienced some form of cybercrime
• The damage related to cybercrime is projected to hit $6 trillion annually by 2021
• Ransomware attacks rose 148% in March 2020 
• Cloud based attacks rose 630% between January and April 2020
• Two in five SMBs have been the victim of a ransomware attack
• More than 80% of reported cyberattacks are phishing
• Phishing attempts have increased by more than 660% since March 1, 2020
• Organized crime gangs account for 55% of attacks

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Cybercrime is Booming, but Defense is More Efficient ( and Affordable) Than Ever

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Although 2020 has been a banner year for cybercrime, especially ransomware, companies that take smart precautions against cybercrime are experiencing good results. Even companies that just put a few additional provisions in place to fight back against the surge are having success in keeping the bad guys out of their systems and data.

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Security awareness training reduces a company’s risk of a cybersecurity incident by 70%.

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Security awareness training isn’t optional. 90% of incidents that end in a data breach start in a phishing email. With threats coming at your business from every side, including a spate of new vectors for phishing threats, security awareness and phishing resistance training is a must-have for 2021 to reduce your risk of a cybersecurity incident dramatically.

Reduce your company’s risk of becoming a victim of cybercrime with BullPhish ID. Ideal for in-office or remote security awareness and phishing resistance training, BullPhish ID features plug-and-play phishing training kits in 8 languages that are updated every month and don’t require any expertise to use, making this “set it and forget it” phishing resistance training solution a powerful ally against cybercrime. SEE A VIDEO OF TRAINING WITH BULLPHISH ID NOW>>

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Multifactor authentication makes a company 99% less likely to be compromised

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Multifactor Authentication (MFA) is a key tool to immediately add strong security protection to systems and data. While no security measure is infallible, companies that rely on MFA to secure access to the heart of their business experience fewer cyberattacks. MFA is a top recommendation from the FBI on how to reduce the chance of success for cyberattacks like credential stuffing.

Passly is the solution that every business should implement to immediately add increased protection against cyberattacks. This multifunctional dynamo not only provides state-of-the-art multifactor authentication, but it also includes single sign-on Launchpads to provide even more control over access as well as secure shared password storage vaults and easy remote management capability. SEE A VIDEO OF PASSLY AT WORK>>

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