It’s no secret: Cybercrime is on the rise. Personal data breaches were the second most common form of Cybercrime in 2022 (just behind Phishing). This article cites the statistics—and provides an arsenal of expert-authored articles on how to thwart would-be hackers and protect your business and customers.
How big is the problem? Cybercrime statistics for 2022
Last month, Techopedia published a comprehensive report, “50+ Cybersecurity Statistics for 2023 You Need to Know – Where, Who & What is Targeted,” which states, in part, that in 2022 alone:
- The global average data breach cost was $4.35 million.
- The average cost of breaches resulting from stolen or compromised credentials amounted to $4.50 million.
- 58,858 people were victims of personal data breaches.
- The healthcare industry has been the costliest for breaches for 12 consecutive years, with an average data breach cost reaching $10.10 million in 2022.
As Cyber criminals become ever more sophisticated, we must continually educate ourselves to stay a step ahead of them. Read on to educate and arm yourself with actionable advice.
How to protect your business and customers from data breaches
A data breach can be costly to your business in terms of dollars lost as well as the loss of customer trust and your company’s reputation. Government regulations also come into play. It pays to be proactive and to be sure you are complying with all applicable laws.
To help you get started, here are some educational resources from Cybersecurity expert Ravi Das:
How to Prevent Data Leakages in Your Cloud-based Platform: The Cloud offers both advantages and risks. Gain an understanding of the unique vulnerabilities—and how to protect against them.
Cybersecurity for the Retail, Healthcare and Finance Sectors: Expert advice tailored to each of these sectors will help you prioritize and focus your Cybersecurity efforts.
Data Privacy Laws and Small to Medium Sized Businesses: This article summarizes the key privacy laws that SMB owners need to be aware of.
What Cybersecurity Insurance is All About: This 3-part series covers the purpose of Cybersecurity insurance, the advantages and disadvantages of coverage, and factors to consider when shopping for a policy.
In the event that your company suffers a Cybersecurity attack
Businesses and other organizations that are victims of network or data breaches or ransomware attacks should report those incidents to the nearest FBI field office or at tips.fbi.gov.
Source:
“50+ Cybersecurity Statistics for 2023 You Need to Know – Where, Who & What is Targeted” by Technopedia, July 2023.
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