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
November 20, 2023
A VPN Can Be a Useful Tool in Your Cybersecurity Efforts
It can’t come as a surprise that businesses are starting to grow concerned about the potential of getting hit by a cyberattack. Just look at what's happening out there. Literally millions of hackers trying to enter, steal, and sell your business’ data. To help protect their data, businesses should consider the adoption of a Virtual Private Network (VPN), which adeptly conceals data during its transit. Let's take a look into some of the most compelling reasons why your business should embrace the use of a VPN.
November 17, 2023
With Cybercriminals Utilizing Psychology, You Need To As Well
Psychology—the scientific study of the mind and behavior—can provide some significant insights into which actions will ultimately be most beneficial to your company. What message will most effectively reach your clients, how can you inspire more motivation amongst your team, and what can you do to reach your goals more effectively?
November 15, 2023
4 Ways to Get More Productivity Out of Your Smartphone
Smartphones are incredible productivity tools that anyone can take advantage of for personal computing or business purposes. Thanks to the large amount of mobile applications available, there are countless ways that people can reimagine various aspects of their lives for the better. To help you out, we’ve put together four of our favorite smartphone tips that you might find useful.

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