Cybercrime and hacking are growing at an astonishing rate, posing serious risks to businesses and consumers worldwide. As our lives and work become more digital, hackers are finding new vulnerabilities to exploit.
To help you understand the scope of the issue, we‘ve compiled the top hacking statistics, facts and trends expected in 2023. Let‘s dive in.
Cyber Attacks are Increasing Exponentially
Hacking attempts are skyrocketing, reflecting attackers‘ relentless efforts to breach networks and systems:
- A 2022 report by the University of Maryland found that a business falls victim to a successful ransomware attack every 14 seconds. This amounts to over 5,000 attacks per day – a number that continues to climb.
- It‘s estimated that 30,000 websites are hacked every day worldwide. WordPress sites and plugins contain many vulnerabilities that hackers actively target and exploit. Even auto-updates can lag behind new threats. [Source: Arx Security]
- The number of global ransomware attacks increased by 105% in 2021 compared to 2020. Healthcare, education and government entities faced devastating ransomware attacks last year. [Source: SonicWall]
The message is clear – no organization is safe from the risk of a cyber attack in 2023.
Hacking is Big Business
For criminals, hacking can be extremely lucrative. Cybercrime is projected to keep growing at a rapid clip:
- Cybercrime may cost the world $10.5 trillion annually by 2025, up from just $3 trillion in 2015. That‘s nearly 4X growth in one decade. [Source: Cybersecurity Ventures]
- Global ransomware damage costs hit $20 billion in 2021. This figure could balloon to a staggering $265 billion by 2031 – a 13X increase in ten years! [Source: Cybersecurity Ventures]
- Healthcare records can sell for over $500 each on the dark web. With over 1 billion records stolen every day, it adds up to big money for hackers. [Source: Gemini Advisory]
As long as hacking remains highly profitable, hackers will keep investing in new methods and tools. Their incentives are only growing stronger.
Human Error is the Leading Cause
You might think hacking involves incredibly sophisticated technical skills. But the reality is much simpler – human mistakes and oversight are behind most data breaches:
- 95% of cybersecurity breaches are caused by human error, according to an IBM report. Simple missteps like falling for phishing emails make the difference.
- Around 90% of data breaches originate from a phishing email, often disguising itself as a trusted source. Just one employee falling for the bait can compromise an entire system. [Source: PurpleSec]
- In 63% of reported data breaches, hackers used compromised passwords to gain access. Weak or reused passwords represent a major vulnerability. [Source: Verizon]
With human error so prevalent, employee education and developing a "cyber smart" culture are key for security.
Businesses Face Constant Threats
Hackers often set their sights on businesses given the huge value of corporate data:
- An IBM study found 64% of companies have experienced some form of data breach or cyber attack. Beyond immediate costs, long-term brand reputation can suffer.
- For enterprises, the average cost of a data breach is $4.35 million. Even for small businesses, the costs average almost $1 million. Having cyber insurance and an incident response plan helps minimize damages. [Source: IBM]
- In 2021, reported data breaches exposed 19 billion records – a 65% increase over 2020. Healthcare, finance, and government/military were the top affected industries. [Source: Tenable]
- The education sector saw a staggering 624% increase in cyber attacks in 2021, driven largely by ransomware. With sensitive student data at stake, schools are attractive targets. [Source: Barracuda]
Simply put, the odds are high your business will face a cyber attack at some point. Prioritizing security now is critical.
What‘s on the Horizon for 2023
Based on current trends, experts anticipate the following developments in the hacking landscape in the year ahead:
- Deepfake attacks will grow as the AI-powered technology keeps advancing. Fake audio/video can be used for CEO fraud, disinformation campaigns and identity theft. [Source: Matthew Rosenquist, Eclipz.io]
- The democratization of hacking through easy-to-use tools lowers barriers for cybercrime participation. Expect more average threat actors empowered to do damage. [Source: Tom Kellermann, VMware]
- As remote work persists, adoption of Secure Access Service Edge (SASE) will rise to provide cloud-based security. SASE converges networking and security in a flexible model. [Source: Gartner]
- Nation-state cyber warfare is likely to intensify as geopolitical turmoil spills over into cyber operations. Cyber espionage between rivals is also heating up. [Source: Crowdstrike]
- Quantum computers pose a future threat to cracking current encryption standards. Migrating to quantum-safe cryptography will be crucial before this happens. [Source: Entrust]
The bottom line is that hacking threats are becoming more frequent, sophisticated, and destructive. But with vigilance and safeguards, individuals and businesses can manage their risks effectively.
Key Takeaways
- Cyber attacks are sharply increasing, with millions happening daily across the globe
- Hacking can lead to massive financial damages, projected to cost trillions of dollars in the coming years
- Despite perceptions, human error enables 95% of successful data breaches
- 64% of businesses have already suffered a cyber attack or data breach
- Deepfakes, quantum computing and democratized hacking are emerging threats on the horizon
- With proper cybersecurity measures and training, both individuals and organizations can become more resilient to hacking in 2023 and beyond
The stakes are high, but we‘re far from powerless in this fight. Taking proactive precautions goes a long way to protect against hacking. Think before you click, enables multi-factor authentication, keep software patched and make cybersecurity a top priority this year.
