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
June 8, 2026
Break-Fix IT Also Breaks Your Business’ Cash Flow
Many small business owners view IT expenses as a series of unavoidable, expensive surprises. Under the traditional break-fix model, you only pay a technician when something actively stops working. While this sounds logical on paper, it creates massive financial volatility for your cash flow and completely derails your long-term planning. A major server failure or network crash results in an unexpected, four-figure invoice that disrupts your operations.
June 5, 2026
If Your Team Resists New Technology, Here’s How to Win the Battle of Adoption
When was the last time you consulted your team members about a planned technology change or investment? Never, right? Instead, you look at the metrics, balance the various return on investment figures, and determine whether to invest in a new platform.
June 3, 2026
Why Optional Updates Are Actually Mandatory for Your Safety
Chances are you’ve seen the update window out of the corner of your eye while you’re going about your day-to-day tasks. For most employees, the choice is easy. They can click “Remind me later” to make today’s problem tomorrow’s. This creates a patch gap, which inadvertently becomes a major security hole for your small business.

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