Cybercrime cost the UK economy £30.5 billion last year, hitting 1.5 million businesses, small businesses experienced a 42% increase in breaches, and cybercrime costs rose by almost 400%. The cost of cybercrimes is projected by Astra to reach $10.5 trillion by 2025. It is said that 80% of reported cyber crimes are generally attributed to phishing attacks. At 16% phishing was the 2nd common reason for data breaches and the costliest averaging $ 4.91 million in breach costs.

 

But it’s not just the big companies and organizations that get hit. Average, everyday consumers experience phishing schemes, ransomware attacks, identity theft, data breaches, and financial losses.

 

For instance, it can take just five minutes to hack an internet-connected device, which includes your smartphone, smartwatch, smart television, and home control systems, according to a Netscout report.

 

No business is too small to be at risk of a cyber security attack. 

 

Cybercrime is predicted to cost the world $10.5 trillion annually by 2025, up from $3 trillion a decade ago and $6 trillion in 2021 (Gartner)

 

• 43% of cyber attacks target small business.
   

• 47% of small businesses had at least one cyber attack in the past year,44% of those had two to four attacks.
   

• 70% of small businesses are unprepared to deal with a cyber attack.
   

• 3 out of 4 small businesses say they don’t have sufficient personnel to address IT security.

 

At CybersecBristol we can help you prevent these risks and minimize your financial risk. Contact Us to find out what we can do for you.