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 18, 2023
Here Are Some Quick Tips on Disaster Recovery
Technology is center-stage in today’s business world, and when all it takes is a disaster to end operations for many businesses, it suddenly becomes incredibly important to have contingency plans in place… you know, just in case. Let’s go over how you should build an effective disaster recovery plan, as well as how to assess your company’s needs.
September 15, 2023
Here Are Some Desk Exercises to Keep You Healthy at Work
While sitting all day might sound appealing at first glance (after all, who doesn’t like sitting?), it’s not something that our bodies are designed to do. Sitting, as a result, can have considerable negative consequences on our overall health when done in excess. It doesn’t have to be hard to fit a workout into your day, though; you can do these simple desk-ercises right from your office to combat the creep of becoming too sedentary. 
September 13, 2023
Take Data Breach Seriously Before It’s Too Late
Whenever you see a data breach in the news, it’s never a good thing. Their impact ranges from minor to severe, and depending on the size and scope of the breach, it could even be bad enough to break a business. Let’s go over how you can keep your business from suffering from data leaks.

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