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
January 3, 2024
How to Make Your Conference Room the Place to Be
The conference room for any business is bound to be pretty interesting, and it can tell you all there is to know about a business. This is why it’s especially important to ensure your conference room gives the right impression, especially if you have clients who frequent your office. Let’s go over how you can make your conference room the best it can be!
January 1, 2024
VoIP Will Transform Your Business’ Communications
With Voice over Internet Protocol, or VoIP, your business can change the way it communicates and operates for the better. While it might seem like a fancier version of your current telephone infrastructure, it is much more than that; it’s a communications platform that is designed to be flexible, scalable, and dynamic in accordance with your business’ needs.
December 29, 2023
The Right Technology Keeps Your Business’ Remote Employees Engaged
We like to espouse the value of a trained and engaged remote workforce, but there is a lot that goes into ensuring that your remote team has the tools and resources they need to be successful. Let’s discuss some of the ways your business can build a remote workforce and company culture that not only encourages remote employees, but helps them thrive as well.

Have a project in mind?

Start with our free consultation. 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