Did you know that every word you say or type on your phone or PC could be intercepted by someone who has no right to do so? Some may even share it without your explicit consent — for example, the Facebook Analytica case and the Google API leakage in 2018.
You should be concerned about the lesser-known threats, which, if neglected, could ruin your business. So, we decided to discuss nine shocking cybersecurity facts that every data-driven business needs to know.
#1. Cyberattacks Are A Daily Occurrence
Cyberattacks are often perceived as a one-off incident and taken lightly, but that’s not how it is. Security breaches occur at a very high frequency, with at least one breach taking place every 11 seconds. So, there is much more happening in the world of cybercrime than what meets the eye.
#2. Over 30,000 Websites Are Hacked Every Day
A recent study reveals that over thirty thousand websites get hacked each day. Most website security issues occur because website owners don’t bother to invest in the right security tools. One of the easiest ways to prevent such attacks is by installing a cheap wildcard SSL on their website. This SSL type encrypts client-server communication on the primary domain and multiple first-level subdomains. However, most businesses use single-domain SSL, which leaves communication on the subdomains unencrypted.
#3. Emails Deliver 94% Malware
An astonishing 94% of the malware is delivered through emails, which is probably due to the high success rate of this type of cyberattack. In the past, attackers have used this technique to launch attacks on individuals, businesses, government agencies, and several others. So, how does it work? The modus operandi for an email attack is almost always the same.
It begins with the target receiving an email with an attachment from a co-worker or some other seemingly reliable source. Next, the unsuspecting target downloads the attachment, which self-executes and creates a backdoor. Sometimes, the target does not realize that the attachment was malicious until a thorough investigation is conducted. That explains why threat actors use this technique to launch attacks so very often.
#4. 60% of Attacks Are Due To Uninstalled Patches
One of the easiest ways to fix vulnerabilities in your OS and applications is by installing the security updates as and when prompted to. These come in the form of updates and are released by the developer to fix the bugs that might have been detected. Shockingly, 60% of attacks could have been prevented by doing this simple task, which takes just a couple of minutes.
#5. IoT Takeovers increase by 100% in 2020
IoT devices are the new crown jewel for threat actors who constantly attempt to break into devices containing personal and confidential data. This includes security cameras located at residences, restaurants, retail outlets, and even the smart refrigerator tucked away in your kitchen.
The reason for this is the lower security protocols deployed by manufacturers. As a result, the number of infections detected in mobile and WiFi networks has increased from 16.17% in 2019 to 32.72% in 2020. Unless manufacturers make use of advanced security features, these numbers are likely to increase.
#6. 95% of Enterprise Networks Remain Compromised
Did you know that only 3% of all the organizations in the US feel safe from cyberattacks? 95% of Enterprises had already experienced a breach. For large companies, this means loss of customer data, intellectual property, and other corporate data. Although it may seem ridiculous that businesses with enormous capital and large security teams succumb to breaches, it happens because there is so much to protect, and almost always, something remains neglected.
#7. MiTM Attacks Constituted 38% of Exploitations
Man-in-the-Middle or MiTM attacks occur when an eavesdropper manages to intercept messages electronically transmitted by the sender to the recipient or vice versa. These constitute 38% of exploitations and can be dangerous depending on the type of data intercepted. Usually, attackers use this technique to steal login credentials, credit card info, and other sensitive data.
Those having online stores and websites can prevent this by using an SSL/TLS certificate. While you are at it, make sure to pick the right type based on your web architecture. For sites with multiple first-level subdomains, a wildcard SSL certificate would be appropriate. For those with multiple domains and subdomains, a SAN SSL is recommended. Using a single certificate is recommended because it makes renewal tracking, SSL administration, and key management easier and keeps the site secure.
#8. Ransomware Up By 715%
A recent study reveals that ransomware attacks have increased by a whopping 715% in H1 2020 compared to the immediately preceding six months. Speaking of annual figures, the year 2020 witnesses a 150% increase as compared to 2019. This form of cyberattack involves criminals taking control of the target organization’s infrastructure and demanding ransom for decryption keys. Some of the recent victims include Accellion, Sierra Wireless, Acer, and Apple.
#9. Cybercrime Costs $6 Trillion Annually
A recent study by Cybersecurity Ventures makes the scariest revelation ever. The study predicts that losses incurred due to cybercrime would soon hit $6 trillion. That is thirty times Jeff Bezos’ net worth and seventy times Facebook’s annual revenue.
From the facts mentioned above, it is clear that insecure websites, emails with malware, and ransomware are the most popular hacking techniques deployed by threat actors. This hints at the possibility of organized crime, which can be dangerous for businesses of all sizes.
Unfortunately, cybercrime cannot be wiped out entirely, nor can the internet be regulated by any single entity. In the past, we have seen some of the biggest companies and federal agencies being attacked. Therefore, organizations must create an IT infrastructure that can prevent and respond to them and all other forms of cyberattacks.