6 Facts about Business Cyber Security

Companies do everything they can to raise their work and be more successful in what they are doing. These efforts will sometimes work, and sometimes the companies will struggle to get everything done. Not all businesses are bound to succeed and become dominant in the markets.

Those who manage to be successful will constantly face new challenges and obstacles. One of the things that come as no surprise is the many people around trying to snatch some of that success. A great portion of thieves comes through the internet.

Cyber attacks are increasing yearly, which is why cyber security needs to strengthen. All companies search for flawless cyber-secure solutions to protect them against intruders in their systems. These cyber protection tools and solutions are sometimes useful, but sometimes the hackers are too powerful to be stopped.

In this article, we’re sharing a couple of facts you should know if you’re thinking about the type of investment you need to protect your company against hackers. Keep reading and learn more about the cyber security issue through facts.

1. Phishing attacks increased by 34% last year

Phishing is one of the most commonly seen hacking methods in the business world. Phishing makes people fall for a scam and provide data or send information and money to someone on the other side of the planet.

Although all companies have educational classes and people are more and more on the internet, employees still fall for phishing scams, which sometimes cost companies to close down entirely. The number of victims of phishing attacks rose by 34% in 2021. You may say hackers are getting better.

2. Every downtime hour costs $250,000 on average

Another way to hurt companies is ransom. It may seem like part of a movie, but hackers will often hijack the company’s network, website, or cloud data and ask for money sent to a secured account to bring the systems back to work.

Experts found that these ransom attacks are more frequent than thought, and each hour of downtime costs companies around $250,000. Imagine having the site down for four hours without anyone noticing. That’d be a cold million.

3. The biggest threat to the office is employees who are careless

Company owners are usually afraid of powerful hackers, but they should be afraid of the careless workers inside their organization. Most of the problems come as an inside job. Not because these employees were evil or criminal but because they were careless.

Most workers do not see the companies they work for as their responsibility, so they’ll click on anything without worrying if it is a threat to the business. That makes them easily download and activate all sorts of malware that potentially hurt the business of millions.

4. The average cyber attack amount in the US costs $4.24 million

Sometimes, company owners and managers do not realize they’ve been attacked, and until they do, take action, and resolve the problem, the damage is huge. The estimates say that the average hacking attack in the US costs companies around $4.24 million.

With thousands of attacks, the total damage that hackers do is counted in trillions. The total global damage in 2021 was calculated to be around $6 trillion, which is more than most countries’ economies across the globe.

5. Companies do not realize they’ve been attacked for nearly a year

As we mentioned, most companies do not realize they’ve been hacked for a long time. By the time they do realize this, enormous damage has been done. Many companies never recover from such attacks and need to close their doors.

The average time for companies to realize the hacking attack is 287 days, according to research conducted by IBM. During this time, hackers freely go through business networks and systems without anyone knowing they are there.

Mails, chats, and other things are intercepted and monitored, but hackers wait for the right time to reveal themselves, or they simply finish the job without anyone knowing they’ve been there and left.

6. 82% of companies increased their cybersecurity budgets for the upcoming year

Because of the things we discussed above, companies increased their budgets last year. Nearly all companies are aware of the dangers hanging over their heads, so 82% of them increased their cybersecurity budget and are constantly looking for better ways of protection.

There’s no other way to do it but to hire companies and software that will protect them. However, capable hackers are literally unstoppable. They know all the flaws of all systems and software, so they’ll always find a backdoor to intrude. When it comes to less capable hackers, that’s where protection takes effect. If you’re a business, you want all the protection, so hiring IT anti-hacking agencies is a wise move.