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
May 9, 2025
Adjusting Your Business IT Approach Can Bring Greater Outcomes
Is your business technology a tangled web of frustrations? You're certainly not navigating this digital dilemma alone. We frequently hear from organizations grappling with sluggish networks, outdated software that feels like a relic from the dial-up era, and the ever-present anxiety of safeguarding crucial business data.
May 7, 2025
A Quick Introduction to the Drives in Microsoft Windows
Windows is, for the most part, the default operating system you can expect to see in a business setting. That said, some owners have never used a Windows computer before, instead using a simple Chromebook or a Mac. Still, it’s good to know how Windows works, especially since it seems there’s a significant gap in knowledge.
May 5, 2025
How Your Business Can Implement Better Cybersecurity Training Practices
Cybersecurity isn’t the most fun thing to talk about, but it’s still important. This is especially for your employees who are on the front lines, the most likely folks to encounter threats during their day-to-day tasks. Today, we want to cover how your business can build better cybersecurity training practices that can keep your business secure for the long haul.

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