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
September 25, 2023
Research by Mozilla Shows Today’s Cars are Terrible, in Terms of Privacy
Today’s cars, trucks, and sport utility vehicles are packed with features, many of which heavily lean on technology in order to operate. While these new vehicles and all their new capabilities are certainly appealing to today’s consumer, it needs to be said that one key aspect of technology has not been improved as these vehicles have been innovated upon.
September 22, 2023
Recent Data Shows Surprising Trends in Cybercrime Victimization
When it comes to who is victimized in cybercriminal efforts, there may be a few stereotypes and presumptions that a lot of people may hold. A recent report, Oh, Behave!, released by the National Cybersecurity Alliance and Cybsafe, shows that the real victims of many forms of cybercrime aren’t who many would expect.
September 20, 2023
Understanding the Blockchain and Its Business Ramifications
You see the word “blockchain” all the time in relation to cryptocurrencies and NFTs, but do you know what it actually means? This is but a small portion of what a blockchain encompasses, and we’re here to discuss today what this technology is capable of.

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