The Estimated Cost Of Cyber Attacks

As the rate of computer use has gone up, so has the amount of people who are liable to cybercrime. A study came out that claimed the global economy loses $445 billion a year to cybercrime. This is a staggering number, but many still do not have the correct protection against people seeking to steal their information. Taxes are done online, people online shop, and there are so many different streams of social media that can bring criminals to one’s software. With all of this vulnerable information unprotected, let’s take a look at the estimated cost of a cyber attack for different groups of people.BusinessesAt the end of 2015, <a href="http://www.ponemon.org/library/2015-cost-of-cyber-crime-united-states" target="_blank">Ponemon Institute of Cyber Crime</a> reported that the average worldwide hacking attacks cost businesses $7.7 million. For the United States, in particular, businesses lose an average of $15.4 million a year. That is a 19% increase from 2014. This increase is due in large part because cybercriminals are becoming more successful with carrying out their attacks on unarmed businesses. It’s cheap for them to attack and has a high reward rate of about $40,000. This is a problem that leads to 200,000 lost jobs in the US. To stop this, businesses are starting to invest more in their cybersecurity software. It is a capable means of protection that costs less than what it costs to have information and money stolen by cybercriminals.Individuals15% of the US population falls victim to cybercrime from stolen personal information. That’s about <a href="http://www.reuters.com/article/us-cybersecurity-mcafee-csis-idUSKBN0EK0SV20140609" target="_blank">40 million people</a>. Not many know how to handle a security breach to their home computer, so they take a long time to recover, which means more money lost. It is estimated that people lose up to $150 million due to stolen personal information. Things like using a credit card on unprotected sites are linked to stolen information. Also, people who keep valuable information unprotected on their computer can run the risk of being a victim of cybercrime through things like malware and phishing. A way to avoid this is by keeping your information locked up and <a href="https://www.anomali.com/blog/proactive-approaches-to-cybersecurity">safe</a>.GovernmentsThe cost of cybercrime is not just dollar signs, but information. Governments all over the world have been subjected to cybercriminals who steal classified information to sell on the black market. The biggest targets are the countries with the most advanced economies because they have both money and information to be stolen. An article from The Washington Post stated the “CSIS estimated that the United States lost about $100 billion. Germany was second with $60 billion, and China followed with $45 billion” lost to cybercrime. That pays a hefty toll on a country’s economy and the well-being of its people. Due to these problems, there has been a stronger push for government-wide cybersecurity across the globe.The estimated cost of cyber attacks for businesses, individuals, and governments are damaging, but with these problems come solutions. As the number of successful hacks increase, the importance of a strong and capable cybersecurity system grows. Make sure that the <a href="https://www.anomali.com/blog/">type of protection</a> you have is up to the task of taking on the cybercriminals that could cost you big.For more information on how cybersecurity can help keep you safe, download the free whitepaper!<a class="cta_button" cta_dest_link="https://www.anomali.com/resources/whitepapers/observation-and-response-an-intelligent-approach" href="https://cta-service-cms2.hubspot.com/ctas/v2/public/cs/c/?cta_guid=1bcf61e7-266b-47f2-bb9a-3e836ab23e09&placement_guid=8600fcd3-0133-4aff-80ad-6b66cb98b9d6&portal_id=458120&redirect_url=APefjpE7YFKR4wmXVfiaj5XOJMIZZRWDQch8eX3687nnXcMAUlgV3JLjBfzFd7Vcog952HDIEHIQqZSI0uivGr5-93FYF3Gjb6CvoRiYQ4W_D7wFRC_5ZsyGyNI6vd2En3wTGX4eKE7x7dCDrV_d1EzwAVb5qUWsPCkIIStTz175YF_4cEp6F37tjcAfmTdEOp1yL-vfJbpQ4JCUxHe52CwfMUaVGbkdCELnntEVZAw9NYZ7sqgZnvS2uyJOlByX4cSW0WykHSKL0rXqGfKePtavRf7kKSG66kj79Br2hoW06-3_RY-42EUm-QlllrbFL0uFWMGpwq8jHQY2MHVMc-RHo8UCOsZRyw&hsutk=2767d93d6471d657e0c9f660e4b58ef8&utm_referrer=https%3A%2F%2Fblog.anomali.com%2Fthe-estimated-cost-of-cyber-attacks&canon=https%3A%2F%2Fblog.anomali.com%2Fthe-estimated-cost-of-cyber-attacks&pageId=4143301043&__hstc=41179005.2767d93d6471d657e0c9f660e4b58ef8.1456736058655.1478831861868.1478887113345.180&__hssc=41179005.40.1478887113345&__hsfp=1335165674" id="cta_button_458120_1bcf61e7-266b-47f2-bb9a-3e836ab23e09" style="margin: 20px auto;" target="_blank" title="Download Here">Download Here </a> <script charset="utf-8" src="https://js.hscta.net/cta/current.js"></script> <script type="text/javascript">hbspt.cta.load(458120, '8600fcd3-0133-4aff-80ad-6b66cb98b9d6', {});</script>