Cyber Security

10 Key Cyber Security Facts You Should Know

  1. Home Home
  3. Cyber Security
  5. 10 Key Cyber Security Facts You Should Know
2 June 2020

10 Cyber Security Facts You Need To Know

The cyber security industry has grown rapidly over the past few years, as a direct response to the growing threat and prevalence of cyberattacks.
However, although a number of initiatives have been launched to combat the threat, given the nature of the industry there is an ongoing arms race between cyber security firms and would-be hackers.
It is therefore crucial for businesses to implement cyber security solutions to protect themselves, as well as a tested disaster recovery plan in place in case of the worst.
As an IT manager or business owner you need to determine the viability of your current cyber security solutions and the threat to your existing IT infrastructure. To help you with this, our Redpalm security experts have compiled a list of 10 cyber security facts you should know.

  1. Nearly 95% of Security Breaches are Recorded from Just 3 Industries

Technology, government, and retail are the 3 industries that are overwhelmingly the most targeted each year. However, this is not because they do not have security measures in place. These industries are attacked primarily because they maintain extensive records of personal information about their customers that hackers can easily take advantage of.

  1. Every 39 Seconds a Business Experiences a Cyberattack

A study by the University of Maryland concluded that a business is attacked via the internet every 39 seconds. That’s over 2,000 attacks per day. 1 in 3 businesses will experience a cyberattack at some point.
One of the most straightforward actions you can take today to protect your business is to strengthen your usernames and passwords. Also ensure you use different passwords for each platform you use.

  1. Around 43% of Cyber Attacks Affect Small Businesses

Of these, 64% of businesses have experienced web-based cyberattacks whereas 62% have faced social engineering and phishing attacks. Around 59% of organisations have been targeted by botnets and malicious code threats, while 51% of SMEs have faced a distributed-denial-of-service (DDoS) attack.
If you want to protect your company from similar cyber security threats, it is crucial to have a business cyberattack recovery plan in place.
For a no-obligation review of your cyber security, please contact our team today on 0333 006 3366

  1. The Global Average Cost of a Data Breach is Expected to Surpass $150 Million in 2020

As IT infrastructure becomes ever more connected, data breaches become ever more expensive for businesses. The estimated cost of data breaches globally in 2019 was more than $2.1 trillion, and the average cost of a single data breach is expected to exceed $150 million in 2020.

  1. More Than 75% of Healthcare Companies Are Infected with Malware at Some Point

Several studies have shown that more than 75% of organisations in the healthcare sector, including health insurance agencies, healthcare manufacturing businesses, and medical treatment establishments have at some point been infected with malware.

  1. The Worldwide Cyber Security Market is Expected to Grow by 12-15% in 2020

Businesses are making fundamental shifts in the way they tackle cyber security issues and are reprioritising budgets to ensure they don’t fall victim to the ever-present security threats posed by hackers.
With the average data breach costing $150 million, it’s clear to see why businesses are driving growth in the cyber security industry.

  1. There Will Be Almost 200 Billion Connected Devices by the End of 2020

When it comes to the Internet of Things (IoT), the cyber security threat is very real and growing as rapidly as the industry. Studies show that by the end of 2020, there will be roughly around 200 billion connected platforms worldwide, meaning that without adequate protection, hackers will have no shortage of targets.

  1. More Than 95% of Data Breaches Occur Due to Human Error

Cyber attackers usually hack into businesses through departments that are the least secure. Interestingly, such breaches almost never happen through the IT department and generally occur due to lack of awareness by other members of staff.

  1. 77% of Businesses Don’t Have an IT Disaster Recovery Plan

77% of businesses claim they don’t yet have a cyber breach response plan in place. What’s even worse – approximately 54% of organisations admit that they detected 1 or more attempted cyber attacks in the past 12 months.
If you need help preparing a disaster recovery plan for your business, you can contact Redpalm on 0333 006 3366 or drop us an email at info@redpalm.co.uk.

  1. Many Businesses Take Around Six Months to Discover a Data Breach

Due to the lack of security measures, crucial information like credit card details, security numbers, and passwords are easily compromised by hackers.
The lack of rigorous data protection processes means many companies fail to identify potential threats in time, and often not until months down the line.

In Summary

Cyber security attacks are one of the greatest threats every business, regardless of size or location, is at risk of experiencing at some point. Unfortunately, this is not a threat that is going away anytime soon and will likely be present as long as the internet is.
With the constant advancement of security technologies comes the evolution of hacking and it is crucial that companies like Redpalm remain at the forefront of data security. In the next 5 years, these attacks will pose a growing threat for every individual and business operating online. This is why it is best to lay the foundation for a secure business that is prepared to fend off digital threats well in advance of potentially becoming a victim.

Contact Redpalm for Cyber security and Disaster Recovery Solutions

At Redpalm, along with our robust cyber security services, we also offer advanced training and disaster recovery solutions to businesses of all sizes.
Get in touch with us today to know more about our managed IT services!

Search For Posts

Subscribe To Our Newsletter

Subscribe to receive industry news and insights.

    Trending Articles

    Software Licensing – Why Is It Important?
    cyber criminal tactics, two individuals hacking into a computer system

    7 Common Cyber Criminal Tactics to Watch Out For
    technology as a service, engineer in data center

    The Benefits of Technology as a Service (TaaS) 

    Latest From The Blogs

    prevent a data breach, computer devices with code and access denied displayed on screen
    Cyber Security

    5 Effective Strategies to Prevent a Data Breach

    Data breaches occur when any sensitive information is leaked or exposed to the public without authorisation. They can lead to the loss of your organisation’s intellectual property, customer data, or other confidential information.

    Read More
    cybersecurity metrics, woman next to data projection
    Cyber Security

    7 Cyber Security Metrics Every Business Should Track

    The ever-evolving nature of cyber threats means tracking cyber security metrics is essential for evaluating your company’s cyber security posture and maintaining cyber defences.

    Read More
    digital privacy, person typing in their login credentials
    General

    Understanding the Future of Digital Privacy

    Technological advancements have reshaped how personal information is collected, shared, and used, and privacy has emerged as one of the biggest challenges in this digital age.

    Read More
    cyber security certification UK, two males working on a computer in server room
    Cyber Security

    5 Tips to Secure Your Cyber Essentials Certification in the UK

    According to the 2024 Cyber Security Breaches Survey conducted by the UK government, 50% of UK businesses experienced a cyber attack or security breach in 2023.  With a growing frequency of cyber attacks, many businesses have begun to prioritise cyber security and cyber security certification in the UK.

    Read More
    cyber security strategy, woman and man working on computers
    Cyber Security

    How to Build a Strong Cyber Security Strategy

    According to cyber security stats, cyber attacks have become more prevalent in recent years, not only increasing in number of incidents but also in their level of sophistication. This increase in ransomware, phishing, and other types of cyber attacks has only emphasised the need and importance of a cyber security strategy for businesses across industries.  An effective cyber security strategy helps you protect your digital assets, such as your systems, networks, and data, from unauthorised access and damage. A well-constructed strategy involves procedures, policies and frameworks to help reduce risks, respond to incidents and safeguard sensitive data.  Your cyber security strategy isn’t meant to be perfect; it’s intended to act as a strongly educated guess as to what you need to do to keep your business safe. As your organisation and the world around you evolve, your strategy needs to evolve as well.

    Read More
    cyber criminal tactics, two individuals hacking into a computer system
    Cyber Security

    7 Common Cyber Criminal Tactics to Watch Out For

    Cyber crimes are attempts by cyber criminals, hackers or other malicious individuals to gain unauthorised access to a computer network or system. These attacks often target a range of victims, from individual users to organisations and even governments, which begs the question, can cyber crime be curbed?

    Read More
    improve online security, a person using a laptop with visual of security overlaid on top of image
    Cyber Security

    6 Simple Ways to Boost Your Company’s Online Security

    Online security, aka cyber security, involves protecting your business’s sensitive information and critical systems from unauthorised access and theft. With data networks being almost universal, fraudsters are becoming more and more innovative with their scams. Every day, countless cyber criminals scan unsecured or poorly secured networks, looking for an opportune moment to attack.

    Read More
    phishing email scam, paper email icon on a hook above a laptop
    Cyber Security

    A Deep Dive Into HR Phishing Email Scams

    Have you ever received an email from your HR team that appeared too good to be true? Or perhaps there was something about it that sounded a little off. Beware—you may have narrowly avoided falling into the clutches of an HR phishing email scam.

    Read More
    technology as a service, engineer in data center
    General

    The Benefits of Technology as a Service (TaaS) 

    Traditionally, IT infrastructure necessitated a server installed on your business premises to allow access to hardware and software applications. If you wanted to scale your data storage and services, you had to purchase additional hardware or invest in expensive upgrades.

    Read More
    global IT outage, woman looking stress while computers are showing coding errors
    General

    A Deep Dive Into Microsoft’s CrowdStrike Global IT Outage

    As one of the largest IT outages in history, thousands of businesses and institutions around the world were knocked offline. From airports to healthcare institutes to offices and railways, the Microsoft outage has led to widespread disruptions and delays across the world.

    Read More