Cloud computing providers will spend 57% more on security in 2021. Over 54% of the world’s organizations have experienced some sort of significant cyber-attack in the past year. 2015 remains the worst year for data breaches in this sector, with two instances exposing 78.8 million and 11 million customers, respectively. See the data breach risk statistics below to help quantify the effects, motivations and causes of these damaging attacks. Here are the data breach statistics that put the current cybersecurity landscape into perspective: Having a Business Continuity Plan (BCP) is critical in case of a data breach. The Hill takes a critical look at data breach prevention practices in light of the alarming statistics on the number of data breaches and their subsequent fallouts in 2014. This refers to an organized approach that addresses, manages, and rectifies the damages in the aftermath of a cyber-attack or data breach. Hopefully, this will help organizations understand the importance of data security and how to better allocate their security budgets. Multi Cloud vs Hybrid Cloud: A Definite Comparison, What is Multi-Cloud? Below are some of the most prominent examples of data breaches recorded in recent years. Only 10% were motivated by espionage. [, In 47% of all financial breaches, the victim is a bank. Data Security In Cloud Computing: How Secure Is Your Data? Malware can penetrate your computer when you are navigating hacked websites, downloading infected files or opening emails from a device that lacks anti-malware security. have all experienced cyber threats in the past few years. Enterprises lose billions in attacks and subsequent lawsuits. have seen a rise in recent years. The complexity and frequency of data breaches are increasing. Disallow the downloading of unfamiliar apps from unknown sources. The survey “2020 Q3 Data Breach QuickView Report” stated that there were 2,953 publicly reported breaches in the first three quarters of 2020, a 51% decrease compared to the same period in 2019. The cybersecurity skills gap will continue to be an issue for companies trying to prevent data breaches. Internet of Things has expanded the connectivity of the developed world and its infrastructure. That’s more than double from the $5.6 billion spent in 2018. Other court costs such as witness fees, docket fees, etc. As the threat of cybersecurity intensifies, the overall amount spent on cybersecurity has been increasing since 2015. We've compiled 116 data breach statistics for 2020 that covers types of data breaches, industry trends, risks, costs, as well as how to prevent them. A survey from Risk Based Security revealed that the number of records exposed in 2020 has increased to 36 billion globally. It’s crucial to properly set permissions on files and remove stale data. Direct expenses include forensic experts, hotline support and providing free credit monitoring subscriptions and potential settlements. [, The USA allocated $18.78 billion for cybersecurity spending in 2021. © 2021 Copyright phoenixNAP | Global IT Services. 88% of businesses with over 1 million folders do not limit employee access to company files. In all, there were 1,673 breach incidents last year. The healthcare industry has the highest average data breach cost ($7.13 million). Here are some industry trends and predictions to watch for in 2021 and beyond: Prevention is always better than cure and is most applicable when dealing with cybercrimes. Companies that contain a data breach in less than 30 days save over $1 million annually. [. [, An average IoT device experiences 5,200 breach attempts every month. The covered expenses may include things such as the following: Below are some of the most frequently asked questions about data breaches with answers supported by data breach statistics and facts. Some of the biggest data breaches recorded in history were from 2005 or later. [, Only 12% of breaches target public cloud environments. [, By 2023, businesses are expected to spend $12.6 billion on cloud security tools. From a business perspective, data breaches can never be ignored, and appropriate measures must be taken by the companies, something which is lacking as of now. Our relationship with technology makes us highly susceptible to hacking. According to the Office of Inadequate Security website, in 1984 the global credit information corporation known as TRW (now called Experian) was hacked and 90 million records were stolen. A total of 620 million accounts suffered a data breach in 2019, from a total of 16 websites. The following resources offer additional information on the improvement of data protection and tips for data breach prevention. To counter this, new legislation was introduced in affected countries, aimed at changing the rules related to threat time frames and user notification. Below we have provided a list of data breach statistics that led up to and launched the age of data infiltration. intentional or unintentional release of secure or private/confidential information to an untrusted environment. In 2020, surveys showed that over half of Americans were concerned about data breaches in natural disasters and personal safety as a result of the pandemic. Why Your Business Needs to Maintain it, The average cost of a data breach currently sits at $3.86 million. [, More than 77% of companies do not have an incident response plan. Large companies and federal departments such as The US Office of Personnel Management (OPM), Anthem Blue Cross, Yahoo, Uber, Quora, Facebook, Cathay Pacific, Marriott International, Equifax, LinkedIn, etc. Phishing scams are one of the most common ways hackers gain access to sensitive or confidential information. Since COVID-19, the FBI announced a 300% increase in reported cybercrimes. This opened the pathway for cybercriminals who were able to target vulnerable victims in the healthcare industry, as well as those who were unemployed or remote workers. This will make future attacks less likely. Here are the most interesting (and alarming) data breach trends in recent years: Cyberattacks as a form of technology warfare have been rising recently, up to 4% according to Privacy Affairs. [. Malicious insiders account for only 7% of the violations. It is estimated that there is a hacking attack every 39 seconds. The number of data breaches has been steadily increasing since 2013, with an estimated 14,717,618,286 cases where data has been either stolen or lost. [, Organizations reporting phishing and social engineering attacks are increasing by 16% every year. See just how expensive it is to experience a breach and what elements cause the cost to rise. [, Companies in the United States have the highest risk of data breaches. Number of Records Exposed in 2019 Hits 15.1 Billion, RiskBased Security; Information about 2016 Data Security Incident, Uber Help; Breach Notification Rule, HHS.gov; Data Breach Response: A Guide for Business, FTC; Submitting Notice of a Breach to the Secretary, HHS.gov; Cases Currently Under Investigation, U.S. Department of Health and Human Services It’s become a sad reality for many: Passwords, account numbers, healthcare data, and other pieces of personally identifiable information (PII) left exposed as a result of targeted attacks, employee error, or outright negligence. The rise of the cloud is also influencing cyberattack trends. (, In 2019, Facebook had 540 million user records exposed on the Amazon cloud server (, In 2018, Marriott International data breach affected roughly 500 million guests (, In 2016, for reasons of poor security, Adult Friend Finder Network was hacked exposing 412 million users private data (, Experian-owned Court Ventures sold information directly to a Vietnamese fraudster service involving as many as 200 million records (, In 2017, data of almost 200 million voters leaked online from Deep Root Analytics (, In 2014, Ebay was hacked, accessing 145 million records (, In 2008 and 2009, Heartland Payment Systems suffered a data breach resulting in the compromise of 130 million records (, In 2007, the security breach at T.J. Maxx Companies Inc. compromised 94 million records (, In 2015, Anthem experienced a breach that compromised 80 million records (, In 2013, Target confirmed a breach that compromised 70 million records (, 63% of companies have implemented a biometric system or plan to onboard one (, 17% of IT security professionals reported information security as the largest budget increase for 2018 (, 80% of organizations planned to increase security spending for 2018 (, It is predicted that global cybersecurity spending will exceed $1 trillion cumulatively from 2017 to 2021 (, Worldwide, IT security spending in 2019 was projected to grow 8.7% over 2018’s figure (, For the first time since 2013, ransomware declined, down 20% overall, but up 12% for enterprises (, Budget allocation to hardware-based security services, which generally lack both portability and the ability to effectively function in virtual infrastructure, has fallen from 20% in 2015 to 17% with a further predicted decline to 15.5% in 2019 (, MSSPs, which can replicate certain security operational functions, saw modest budget allocation growth at the end of 2017 to 14.7%, but security professionals expect that stake to grow to 17.3% by 2019 (. New York had 863 breaches and 296 million records exposed, the report shows. [. The variety and severity of cyberattacks are on the rise. Necessary preventive measures such as password protection and authentication, are not enough to prevent more elaborate and complex cyber threats that are faced by companies today. The malware is designed to harm your computer or software and commonly masquerades as a warning against harmful software. Here are the top 10 data breaches that have affected U.S. consumers in … Take a look at how The actual number of data breaches is not known. The Privacy Rights Clearinghouse estimated that there have been 9,044 public breaches since 2005, however more can be presumed since the organization does not report on breaches where the number of compromised records is unknown. Data breaches are becoming more and more common and some of the most recent data breaches have been the largest on record to date. Both medium and small-scale organizations are losing an estimated $120,000 on average due to service denial attacks. A plan outlines the type of data being stored, where it’s stored, and what the potential liabilities of recovery actions. [, Remote work increased the average breach cost by $137,000. The Privacy Rights Clearinghouse, a nonprofit organization that tracks data breaches, estimates that there have been 9,044 public breaches since 2005. [, More than 70% of security executives believe that their budgets for the fiscal year 2021 will shrink. In order to mitigate the risk that comes along with data loss, many companies are now purchasing data breach insurance to support their data breach prevention and mitigation plans. The number of reported data breaches rose 17% to 1,473 in 2019 from 1,257 a year earlier, according to a new report by the nonprofit Identity Theft Resource Center, suggesting that a … By this count, the number of significant breaches topped 1,300 last year, versus fewer than 200 in 2005 Here are the numbers behind the recent sharp rise in data breaches. [, In 2020, 86% of all breaches were financially motivated. A BCP requires an effective cyber incident response plan. California simply has a lot of data to breach.” Two other large states — New York and Texas — are the other U.S. states to top Florida in terms of number of data breaches. In only 2 years, the total data stored in the cloud – which includes everything from public clouds operated by third-party vendors, government-owned clouds, social media companies, and private clouds – will be a hundred times greater than today. The average mean time to identify a data breach worldwide is 197 days. Common cyber attacks used in data breaches are: Although data breaches seem more prevalent nowadays due to cloud computing and increased digital storage, they have existed as long as companies have maintained confidential information and private records. In 2020, there was a 58% increase of confirmed data breaches in the healthcare industry. However, publicly disclosed data breaches increased in frequency in the 1980s and awareness of data breaches grew in the early 2000s. Healthcare data breaches have doubled since 2014. [, Over 95% of all data breaches are a result of a human error. Texas had 819 breaches … Live Cyber Attack Lab Watch our IR team detect & respond to a rogue insider trying to steal data! To keep up with rapidly developing technologies, many companies are investing in their service usability. Cybersecurity measures range from simple to complex. Sources. Assess your business’s cybersecurity risk to make company-wide changes and improve overall security behavior. [. A: As of 2020, the average total cost of a data breach is $3.86 million (IBM). AON’s 2019 Cyber Security Risk Report discovered that most organizations do not have a BCP. Total number of data breach notifications from all data protection authorities in Europe, since May 2018 Investigations initiated by data protection authorities. The average cost of a malware attack sits at $2.6 million. Only 16% of them think that the third party’s risk management system was effective enough in 2020. This growth is giving birth to new forms of cybercrime since more devices are now hackable. Data is big business, which would explain the increased number and severity of data breaches in recent history. [, According to a recent survey carried out on C-suite users, a total of 53% of respondents indicated “cybercrime and data breaches” as the number one concern when it comes to cybersecurity. Intrusions caused by phishing have affected 82% of manufacturers in the U.S, which also covers the industrial supply chains present in the manufacturing sectors. From recovering data and notifying stakeholders, first-party insurance covers the following: Third-party insurance is primarily used by contractors and IT professionals to lessen their liability. Here’s a look at the largest data breaches in history. It’s also apparent that companies are still not prepared enough for breaches even though they are becoming more commonplace. [, The average lifecycle of a data breach (from identification to containment) in 2020 was 280 days. A:  The Privacy Rights Clearinghouse keeps a chronology of data and public security breaches dating back to 2005. Over 80% of breaches within Hacking involve Brute force or the Use of lost or stolen credentials. [, By the end of 2021, 100% of large companies globally will have a CISO (Chief information security officer) position. The number of reported cybercrimes accounts for only 10-12% of the actual number of cyber attacks. We’re experiencing exponential growth of the cloud and IoT applications, such as connected health devices, house or child monitoring equipment, and smart cars. Data breach statistics show that hackers are highly motivated by money to acquire data, and that personal information is a highly valued type of data to compromise. Websites such as Dubsmash, Armor Games, ShareThis, Whitepages and 500px were among those affected. [. Most data breaches (56%) are caused by malicious activities outside the entity. Data breach insurance helps cover the costs associated with a data security breach. The mean time to recover from a data breach can be as high as 70 days. It is typically accomplished by flooding the targeted machine or resource with superfluous requests in an attempt to overload systems and prevent some or all legitimate requests from being fulfilled. Content Manager at phoenixNAP, she has 10 years of experience behind her, creating, optimizing, and managing content online, in several niches from eCommerce to Tech. [, In 2020, phishing accounted for 1 in every 4.200 emails. There are also proactive approaches security professionals can take in order to lower their chances of experiencing a breach. Breaches exposed 52% more records than in 2018. The U.S. Department of Justice defines a breach as “the loss of control, compromise, unauthorized disclosure, unauthorized acquisition, access for an unauthorized purpose, or other unauthorized access, to data, whether physical or electronic.”. The usual cause of a breach is criminal activity or human error, or a mix of both. [, Over 30% of all data breaches involve an internal actor. The data breach took place in July 2017, where hackers obtained data records of these companies, compromising 1.2 million personal records, and 5.9 million payment cards. [, In September 2020 alone, 9.7 million healthcare records were the target of 83 successful breaches. Information is presented in a series of points, covering the most critical cybersecurity statistics for 2019-21. Most breaches occur in North America. That number will rise to $10.5 trillion annually by 2025. If left untreated, cybercrimes and data breaches can hamper the reputation of a company, assets, finances, and even their existence, which means there will be no future if you don’t start prevention now. Once governments and businesses moved from paper to digital, data breaches became more commonplace. While the numbers of data records lost or stolen fell, the number of data breaches in 2015 increased by 8% over 2014. Keeping data classification and governance up to par is instrumental to maintaining compliance with data privacy legislation like HIPAA, SOX, ISO 27001 and more. Common types of data breach insurance are: With many different kinds of consequences that occur due to a data breach, significant time and money will be spent to recover. Regardless of industry, there’s no question that data security and defense is highly valuable for companies in the digital economy we live in. Report crimes to the authorities and refuse to pay. Her aim: to create digital content that's practical yet inspiring and forward-thinking. Worrisome Data Breach Statistics A total of 4.1 billion records were compromised in H1 2019 alone. The 2014 Verizon Data Breach Investigation alone reported on 2,100 data breaches where 700 million records were exposed. By 2023, the total number of DDoS attacks across the world will hit 15.4 million. To calculate the average cost of a data breach, security institutes collect both the direct and indirect expenses suffered by the breached organization. Attacks on service providers such as Yahoo, AML, etc. Below are some statistics that show how costly data breaches are: The 2019 Thales Data Threat Report – Global Edition issued by Zurich Insurance, found that rapid digitalization and the Internet of Things has expanded the connectivity of the developed world and its infrastructure. More than 10 … This vulnerability extends from our phones, personal and work computers, transportation, banks, and credit card purchases to every smart device in our homes and workplaces. The cost of cyberattacks in the banking industry reached $18.3 million annually per company. [, The average cost per lost or stolen record per individual is $146. An estimated 4,000,000 DDoS attacks were reported monthly in the last few years. Every minute, companies lose $17,700 due to a phishing attack. This can be done by accessing a computer or network to steal local files or by bypassing network security remotely. Enterprises could lose more than $2 million in total due to denial of service attacks. The increased bandwidth of connected devices will make IoT devices more vulnerable to cyberattacks. Find out more on how to secure your data in the cloud, by connecting with one of our experts. Below are the projected cybersecurity incidents that may occur in the coming years. (, The larger the data breach, the less likely the organization will have another breach in the following two years (, 23% of data breaches are caused by human error (, 62% of breaches not involving an error, misuse, or physical action involved the use of stolen credentials, brute force, or phishing (, It is estimated that a business will fall victim to a ransomware attack every 11 seconds by 2021 (, Cybercrime is estimated to cost the world $10.5 trillion annually by 2025 (, Attackers will zero in on biometric hacking and expose vulnerabilities in touch ID sensors, facial recognition and passcodes (, Skimming isn’t new but the next frontier is an enterprise-wide attack on a national network of a major financial institution, which can cause millions in losses (, A major wireless carrier will be attacked with a simultaneous effect on both iPhones and Android, stealing personal information from millions of consumers and possibly disabling all wireless communications in the United States (, A cloud vendor will suffer a breach, compromising the sensitive information of hundreds of Fortune 1000 companies (, The online gaming community will be an emerging hacker surface, with cybercriminals posing as gamers and gaining access to the computers and personal data of trusting players (, The first computer virus, known as “The Creeper,” was discovered in the early 1970s (, In 2005 the Privacy Rights Clearinghouse began its chronology of data breaches (, 2005 is the year the first data breach (DSW Shoe Warehouse) exposed more than 1 million records (, The largest insider attack occurred from 1976 to 2006 when Greg Chung of Boeing stole $2 billion worth of aerospace documents and gave them to China (, AOL was the first victim of phishing attacks in 1996 (, As of 2015, 25% of global data required security but was not protected (, In 2017, one of the three major U.S. credit reporting agencies Equifax exposed 145.5 million accounts including names, Social Security numbers, dates of birth, addresses, and, in some cases, driver’s license numbers of American consumers (, Social media data breaches accounted for 56% of data breaches in the first half of 2018 (, Over the past 10 years, there have been 300 data breaches involving the theft of 100,000 or more records (, The United States saw 1,244 data breaches in 2018 and had 446.5 million exposed records (, Data breaches exposed 4.1 billion records in the first six months of 2019 (, As of 2019, cyber-attacks are considered among the top five risks to global stability (, Yahoo holds the record for the largest data breach of all time with 3 billion compromised accounts (, In 2019, First American Financial Corp. had 885 million records exposed online including bank transactions, social security numbers and more.
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