9 Cyber Security Stats You Should Know
Did you know that in 2023, GDPR fines exceeded 1.6billion Euros? This is more than 2019, 2020, and 2021 combined. We have produced a cyber security statistics infographic to summarise 9 key cyber security insights for 2023/2024.
These statistics highlight the growing risk that generative AI poses to cyber security and that attackers will go for any business whether big or small. Businesses are aware of these increasing risks with 80% planning to increase cyber security spending in 2024.
The impact of extortion can be huge and this impacts 27% of attacks. Businesses are then faced with a very difficult decision between letting cyber criminals win and paying large ransom payments or encountering huge time and costs in fixing the damage (e.g. British Library faces £6-7million to resort digital services). However, paying a ransom is no guarantee that data will be returned - in fact only 8% of businesses got their data back after paying a ransom.
41% of cyber attacks stem from phishing so making sure your team is fully trained to identify and react appropriately to phishing attacks is a key measure to protecting your business. Learn more about how to protect your business from phishing here.
Organisations should be concerned that the average time to detect a security breach is 197 days - by which time it is far too late. So making sure your business is protected with robust cyber defences is critical.
Cyber Security Statistics Infographic Information Sources:
$9.5Trillion is the predicted global cost of cyber crime in 2024 - Cybersecurity Ventures
80% of organisations plan to increase spending on cyber security in 2024 - Gartner
43% of cyber crimes are aimed at small businesses - Accenture
197 days - the average time it takes to discover a data breach -IBM Security X Force 2023
GDPR fines exceed 1.6billion Euros in 2023 - Statista
27% of cyber attacks cite extortion as the main impact - IBM Security X Force 2023
41% of cyber incidents stem from phishing - IBM Security X Force 2023
8% of businesses who pay ransoms receive their data back - Sophos
85% of cyber security professionals attribute a rise in cyber attacks to generative AI - CFO