Not sure your organization is at risk? As the world becomes increasingly reliant on applications and technologies, cybercrime incidents have risen at an exponential rate. In 2023 alone, there were more than 353 million victims (ITRC, 2024), resulting in record-breaking data breaches. If you or your organization haven’t been victimized by cyber criminals yet, odds are not in your favor.
Cybersecurity by the Numbers: The financial, property, and human impacts
As the world becomes increasingly reliant on applications and technologies, cybercrime incidents have risen at an exponential rate. In 2023 alone, there were more than 353 million victims (ITRC, 2024), resulting in record-breaking data breaches, with the United States incurring the highest average data breach cost at $9.36 million (IBM, 2024). If you or your organization haven’t been victimized by cyber criminals yet, odds are not in your favor. Let’s explore some of the latest trends, data, and how you can protect your organization against cybercrime.
Cybercrime By the Numbers
2,365 cyberattacks in 2023
343,338.694 cyberattack victims in 2023
$4.88M / avg. cost of each data breach
94% of orgs reported email security incidents
$2.9B in org losses in 2023 due to email compromises
Most Common Causes of Cyber Attacks (Forbes, 2024)
Phishing
Malware
Distributed Denial of Service (DDoS)
Personal Data Breaches
Most Common Types of Identity Theft (Forbes Advisor, 2024)
- Credit card fraud
- Other identity theft
- Load or lease fraud
- Bank account fraud
- Government documents or benefits
Top Industries Experiencing Cyber Incidents (ITRC, 2024)
- Healthcare (35.3%)
- Financial Services (32.5%)
- Professional Services (13.4%)
- Manufacturing (11.3%)
- Education (7.5%)
Top 12 Ways to Protect Your Organization Against Cybercrime (Forbes, 2024)
Prioritize Cybersecurity Decisions
Conduct Regular Employee Training
Don’t Focus only on Compromised Data
Develop a Comprehensive Approach
Leverage AI for Real-time Monitoring
Look at all the Telemetry Data
Conduct Periodic Reviews
Ensure Accurate Asset and Risk Classification
Pay Attention to Early Signs
Use Third-Party Vendors with Similar Security Standards
Enforce Services with Data Engineering Capabilities
Use Threat Intelligence Tools
Bonus: Collaborate with an application security consultancy to assess, audit, monitor, and/or manage your application security
CTA: Don’t wait for a cyber incident to hit your organization. Request an assessment now.