How serious are Cyber Attacks?
Google has registered over 2 million phishing sites and the cost of data breaches amount US$3 million as of 2020.
The rising frequency of large-scale, well-publicized security breaches implies that not only is the quantity of security breaches increasing, but so is the severity of such breaches. Data breaches disclose sensitive information, putting exposed individuals at danger of identity theft, wreaking havoc on businesses’ image, and nearly invariably exposing the corporation to compliance violations.
- The average cost of a data breach in 2020 was $3.86 million.
- In 2020, the average time to detect and contain a breach was a whopping 280 days.
- The average cost of downtime is 24 times that of the usual ransom.
- Ransomware attacks cost the healthcare industry an estimated $25 billion in 2019.
- By 2025, cybercrime is expected to cost the world $10.5 trillion each year.
- Having business continuity and disaster recovery solutions (BCDR) in place, on the other hand, is a tremendous asset: Clients utilizing BCDR solutions recovered from an attack in less than 24 hours, according to three out of four Managed Services Providers.