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
February 6, 2023
Paying Attention to Your Cybersecurity Is Just Good Risk Management
Small businesses have plenty of problems as it is without the added stress that poor security practices can bring about. Small businesses often overlook security because they deem themselves too small to be of any value to a hacker, but this outlook is short-sighted and irresponsible at best. Let’s go over why you’ll need to make security a priority for your business.
February 3, 2023
What Can You Gain from AI?
AI is a major topic lately, whether it’s on the topic of new and upcoming chatbots that are capable of generating text or making art that can compete with even the most skilled of artists. AI is commonly targeted as a culprit in stealing jobs, as well, and with these applications becoming more sophisticated over time, it’s no wonder people aren’t sure how to react to these developments.
February 1, 2023
3 Factors You Need to Consider Before You Upgrade
If you consistently find that technology in your office causes more problems than it’s worth, perhaps it’s time to take a closer look at what you could be doing better with your infrastructure. We want you to look at failing or inoperable/inefficient technology as an opportunity for improvement rather than another large expense. A good hardware refresh centered around your organization’s needs can revitalize operations and improve your bottom line.

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