High-profile cyberattacks are everywhere; the Colonial Pipeline cyberattack disrupted the energy supply chain for several days, and Brazil’s JBS, the world’s biggest meat processor, paid $11 million to hackers in a ransomware attack. As more and more businesses operate online, mission-critical systems and infrastructure are just waiting to be attacked by cybercriminals.
The average cost of a data breach is $4.35 million, and cyber incidents of all kinds have serious, damaging consequences to a business’s reputation and bottom line. Ransomware, one of the most popular forms of cyberattack, is a type of malware that infiltrates network systems and either locks or erases them. A ransom is demanded in order to regain access. Phishing is another popular type of attack, which is a type of email or text message attack where the cybercriminal pretends to be an authentic organization. The goal is to convince the victim to enter sensitive credentials or financial information. Both ransomware and phishing are forms of social engineering designed to steal data, infect systems, and damage a company.
Cybercrimes in the Workplace
In the workplace, cybersecurity is also increasingly important. As employees access sensitive files and applications from multiple devices, often located in different places, the opportunity for hacking is high. Remote work means systems are more distributed than they were ten years ago when all employees worked out of a secure office location. Also, as cloud adoption and digital transformation accelerate, any sort of business downtime after a cyberattack becomes even more costly. Especially for companies storing any sort of financial or personally identifiable information, cybersecurity is essential in maintaining consumer trust.
Cybersecurity Trends in 2023
1. 2023 will see 33 million account breaches.
As a result, businesses should increase their audits of network security programs. Network auditing offers organizations a comprehensive look at their cybersecurity posture. It can identify any vulnerabilities, flag outdated software or applications, and pinpoint potential security lapses. A network security audit is an excellent plan to begin a cybersecurity journey, but it’s also helpful to run regular scans throughout the year. Get a free consultation on network security at your workplace, and receive expert recommendations on how to avoid cyberattacks.
2. 88% of data breaches are due to human error.
With the vast majority of attacks being a result of human error, businesses should increase employee security awareness training. As employees are often the first line of defense against phishing or ransomware, this specialized training helps arm your team members with the tools to recognize scams and aims to reduce avoidable security incidents. Security awareness training helps to lessen the impact of accidental user error, and programs can teach employees how to quickly recognize phishing emails and report suspicious activity, plus offer tips on best cybersecurity practices like multifactor authentication and Wi-Fi security.
3. Only 50% of small businesses have a cybersecurity plan in place.
Only half of businesses have a proactive security plan in place, but the absolute worst time to prepare for a cyberattack is after it happens. As more organizations start to feel the consequences of poor security posture, more will begin to put safeguards and action plans in place proactively.
4. Cybercriminals can penetrate 93% of networks.
On average, it only takes an attacker two days to infiltrate a company’s network. This is especially alarming when considering vulnerable government agencies, supply chain infrastructure, financial institutions, and more.
5. The cost of cybercrime is expected to hit $8 trillion this year and triple by 2025.
Cybercrime is incredibly disruptive and costly to the global ecosystem, and it’s only getting more expensive. As more consumers and businesses rely on digital systems for every part of their professional and personal lives, the cost of these disruptions increases as well.
6. Ransomware attacks are up 12% over 2022.
According to BlackFog’s “The State of Ransomware in 2023” report, ransomware attacks in March 2023 were up 12% over previous years. High-profile attacks have included a data leak at Xavier University and a school district hacking.
7. Total data stored in the cloud will hit 200 zettabytes by 2025.
Over the next few years, businesses and consumers alike will generate a staggering amount of new data. An incredible amount of critical information from public and private companies and consumers will need to be secure in cloud environments, creating an even more enticing environment for cybercriminals.
Boost Your Cybersecurity with Expert Technology Solutions from Warehouse Direct
Whether you’re a local coffee shop or a global B2B technology SaaS platform, cybersecurity is incredibly important. In 2023, the businesses that invest in security solutions will be thankful for years to come, and those that put it off will pay the consequences.
Learn more about cybersecurity technology solutions from the experts at Warehouse Direct. Specializing in workplace security, we will create a custom solution that fits your needs. From cloud security to antivirus software to 24/7 IT support, we’re ready to stand by your team to keep your business safe from cybercriminals.