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
August 8, 2025
The Psychology Behind the Scam
Scams are often so convincing that it’s difficult for even experienced individuals to detect them, but why is this the case? It all boils down to human psychology. Modern security training can help you identify these telltale signs, but it doesn’t really explain the why of things. That’s what we’re out to explore today.
August 6, 2025
Why Focusing on Operating Expenses is the Best Way to Budget IT
Business technology is one of the greatest expenses in your budget, particularly when things don’t go according to plan. These are typically looked at as capital expenses, which means they are expensive and unpredictable by nature… but they don’t have to be. Today, we want to show you a different way of managing your IT that transforms it into a predictable operating expense.
August 4, 2025
Windows 10 Is On Its Way Out. Are You Ready?
On October 14, 2025, Windows 10 will officially reach its end of support. This means that millions of users around the world will have to make a decision: upgrade to Windows 11, or continue without support. What does this end of support mean, and how should your business prepare?

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