Welcome to the First Column IT Tech Blog

HomeBlog
The Global Annual Cost of Cybercrime Will Break $10 Trillion by 2025

The Global Annual Cost of Cybercrime Will Break $10 Trillion by 2025

October 11, 2023

Security is a major pain point for businesses of all industries and sizes, and the numbers reflect this. Here are some of the most notable statistics we could find that prove just how important security is to not just your business, but all businesses.

The Projected Global Annual Cost of Cybercrime in 2023: $8 Trillion

It’s estimated that there are 400 million small and medium-sized businesses all around the world, equating to around $20,000 of damage to each of them on average. Granted, cybercrime is not going to impact each of them equally, and some companies might experience more troubles than their peers.

The Projected Global Annual Cost of Cybercrime in 2025: $10.5 Trillion

Look, cybercrime is only going to get worse, so what did you expect from a future number? If the above 400 million SMBs would suffer $20,000 of damage each in 2023, then this number would increase to $26,250 to reflect 2025’s increase—again, not distributed evenly, but still quite large and enough to be concerning.

If it isn’t clear yet, this cybersecurity trend will only grow worse over time, and you need to take action now before it’s too late. Start protecting your business so you can protect your future in the process.

Phishing Attacks Cause 80% of Cybercrime in the Technology Industry

Phishing can be classified as any communication that is used to illicitly gain access to a resource, and it’s a massive threat that cannot be ignored. It’s mostly used as a vector for spreading other types of threats. To put things in perspective, four out of every five attacks will involve phishing in some capacity, so your team will need to know how to identify and stop it.

Do These Numbers Convince You to Take Cybersecurity Seriously?

First Column IT can help you implement solutions that can optimize your security and protect your network from threats. Learn more by calling us today at (571) 470-5594.

Previous Post
February 20, 2025
Technology Can Transform Your Business’ Procurement and Distribution
Running a small business is no easy feat, especially when it comes to managing supply chains. You’ve got to keep track of suppliers, shipments, inventory, and customer demands—all while keeping your sanity. Luckily, technology is here to help. Let's break down some of the key tech tools that small businesses are using to make their supply chains smoother and more efficient.
February 18, 2025
Can Technology Help You Manage Your Other Technology?
Managing an office these days means juggling tons of devices, and it can be a real hassle. You've got to keep an eye on every device, know who's using what, and notice any trends. If you're not already tracking your tech, it’s a smart move to start. An inventory management system can seriously simplify the process.
February 18, 2025
Three of the Easiest Game-Changing Windows Tips
We’re always chatting about how cool technology can be—even though even the biggest tech fans might not know all the neat options out there. Even though Windows 10 is slowly stepping down as the most popular workstation, you might be surprised that more than 60% of work computers are still running it. That’s why this week, we’re diving into three awesome Windows 10 features (that also work on Windows 11) that can really make your life easier.

Have a project in mind?

Start with our free consultation for VA, DC and MD companies. We will provide a detailed proposal and firm quote based on your specific IT support needs. All at a predictable monthly cost per seat.
Free Consultation - Sign Up Here