There are some crazy numbers behind the internet and the security and privacy measures that people take to protect their data. As people share more information with internet companies and websites, there is more and more data to protect.
In 2017, there were 16.7 million victims of identity fraud.
People are developing fairly complete online identities. Since all this information is available in places like Facebook and Instagram, cybercriminals are using that information to steal people’s identities.
Source: Fraud Enters a New Era of Complexity – Javelin Strategy
The most commonly reported type of identity theft fraud in 2018 was thieves opening new credit cards using someone else’s identity.
Cybersecurity and keeping your data private is such an important topic for people because the impacts of losing control of your data are so serious. Someone else could negatively impact your credit score or steal money from you.
Source: Federal Trade Commission, Consumer Sentinel Network
Companies are projected to spend $124 billion on cybersecurity in 2019.
Companies are slowly beginning to see the risks associated with data breaches. They can lose customers, face fines or lawsuits, and negative publicity if they don’t take security seriously.
Source: Gartner Press Release
95 percent of breached records came from three industries in 2016: Government, retail, and technology.
Government, retail and technology industries stand to lose the most data. Government and retail industries both have sensitive information like social security numbers and financial information. Hackers stand to gain the most from accessing these systems and the data they contain.
There is a hacking attack every 39 seconds.
Hackers are constantly at work, all over the world, all the time. Hacking has expanded from individuals messing around to full-blown enterprise level cybercrime syndicates.
Source: Hackers Attack Every 39 Seconds – Security Magazine
The cybersecurity market is projected to be worth over $300 billion by 2024.
Privacy and security products and services have grown into a massive industry. The biggest growth has been from business solutions as they begin to direct budgets towards these solutions.
Source: Global Market Insights, Inc.
Cybercrime generated at least $1.5 trillion in 2018.
Cybercrime is a huge industry. There is so much to gain from accessing databases full of customer data. For example, hacking into a database full of credit card information gives cyber criminals access to nearly unlimited funds.
Source: HashedOut – The SSL Store
The U.S. government plans to spend $15 billion on cybersecurity in 2019.
Government information is especially sensitive, as it’s a matter of national security. The stakes of losing this data is so high, that the government needs to set aside a big chunk of change to keep it secure.
Source: The SSL Store
Cybercrime damages are anticipated to cost businesses and organizations $6 trillion annually by 2021.
The world’s best hackers now have options to work for cyber crime syndicates, or use their skills to alert companies of their vulnerabilities before they’re breached. Businesses stand to lose more and more each year as more businesses are targeted and compromised.
Source: Cybercrime Damages 6 Trillion by 2021 – Cybersecurity Ventures
By 2023, the United States will account for half of global breached data.
The United States has some of the biggest, most powerful internet companies in the world. The U.S. e-commerce industry is massive and as such, hackers see the biggest opportunities in compromising American data stores.
Source: Juniper Research
The average cost of a data breach for a U.S. company is $7.91 million.
Because U.S. data breaches are so devastating (due to the massive amounts of data and the sensitivity of that data), the costs of dealing with a data breach in the U.S. are nearly twice the global average. Companies stand to gain a lot by putting security safeguards in place, as it could prevent a big expense down the road.
Source: Cost of a Data Breach – IBM
Email is responsible for spreading 92% of all malware.
People are especially vulnerable to malware through their email. Nearly all of the malware that infects people’s computers and devices is spread with email. It’s important to pay close attention to where your emails are coming from and what is actually contained in the files attached to them.
Source: CSO Online
An Estimated 30 percent of the world’s top websites aren’t secure.
It’s too easy to implement HTTPS for websites not to use it. Top websites, like ESPN.com, BBC.com and MyShopify.com, fail to implement HTTPS on their sites. This fault could let people entering login information or financial information on these sites to lose control of that data to anyone who is monitoring their network.
Around $76 billion of illegal activity per year involves bitcoin.
Bitcoin is an alternative currency that let’s people make payments online, without the identification required for a credit card. As a result it’s become a hotbed for illegal purchases on the internet.
Source: Review of Financial Studies
95 percent of Americans are concerned about businesses and collecting and selling personal information.
We’re living in a “surveillance economy“, where companies are collecting and monetizing everyone’s data on a massive scale. People feel as if they have no control over where their data is going or how it’s used. There is growing concern about businesses using personal information, especially due to the frequency of hacks and data breaches.