Why is Cybersecurity So Crucial?

 

Cybercrimes cost the world $2 trillion in 2019, according to Juniper Research. While Cybersecurity Ventures predicted in 2017 that damages would hit $6 trillion by 2021, prompting global spending of roughly $10 billion in cyber-security measures by 2027 to protect against these catastrophic losses.

 

But it’s not just the big companies and organizations that get hit. Average, everyday consumers experience phishing schemes, ransomware attacks, identity theft, data breaches, and financial losses.

For instance, it can take just five minutes to hack an internet-connected device, which includes your smartphone, smartwatch, smart television, and home control systems, according to a Netscout report.

 

No business is too small to be at risk of a cyber security attack. 

 

Worldwide spending on cybersecurity is forecasted to reach $133.7 billion in 2022. (Gartner)

 

43% of cyber attacks target small business.
 

47% of small businesses had at least one cyber attack in the past year,
44% of those had two to four attacks.
 

70% of small businesses are unprepared to deal with a cyber attack.
 

3 out of 4 small businesses say they don’t have sufficient personnel to address IT security.
 


 

58% of malware attack victims are categorized as small businesses.

 

At CybersecBristol we can help you prevent these risks and minimize your financial risk. Contact Us to find out what we can do for you.

 

 

 

 

 

The Importance of Cyber Security