22 Cyber Statistics for 2022

Cybercrime was at an all-time high last year, and experts in the Information Technology field predict more cyber-attacks this year. Organizations rely on technology to conduct business, and cybercrime is one of the most significant risks for which businesses should be prepared. A Cyber Insurance Policy will help ensure you are prepared. These staggering statistics give cause to consider cyber coverage to protect your organization.

1. In 2021, cyber-attacks increased 50% year-over-year, with organizations facing 925 cyber-attacks per week globally. ⁽¹⁾
2. On average, 30,000 websites are hacked every day. ⁽²⁾ 
3. 98% of US Executives say their organization experienced one or more cyber incidents in 2021, according to Deloitte. ⁽³⁾
4. Around 300,000 new pieces of malware are created daily to target individuals and organizations. ⁽⁴⁾
5. Phishing attacks are responsible for more than 80% of reported security incidents. ⁽⁵⁾
6. According to Verizon’s 2021 Data Breach Investigations Report, 85% of breaches involved the human element. ⁽⁶⁾
7. According to IBM’s Cost of a Data Breach Report, a breach caused due to phishing costs organizations an average of US$4.65 million per company last year. ⁽⁷⁾
8. Data breach costs, in general, rose from US$3.86 million to US$4.24 million per company, the highest average total cost in the 17-year history of this report. ⁽⁸⁾
9. More than 90% of cyber-attacks infiltrate an organization via email. ⁽⁹⁾
10. According to the IBM report, business interruption contributed to 38% of Data Breach Costs. ⁽¹⁰⁾
11. Business Email Compromise was the most expensive data breach vector at US$5.01 Million. ⁽¹¹⁾
12. The U.S. Department of Homeland Security claims that 50% to 70% of ransomware attacks are aimed at small and medium-sized companies. ⁽¹²⁾
13. SonicWall recorded a 148% increase in attacks involving ransomware in 2021. ⁽¹³⁾
14. Healthcare was the top industry in average for total costs of a data breach last year. ⁽¹⁴⁾
15. Security breaches cost the healthcare industry $6 trillion in 2020. ⁽¹⁵⁾
16. 98% of cybercrime relies on social engineering. ⁽¹⁶⁾
17. The Clark School at the University of Maryland conducted a study that found that a computer is attacked by cybercriminals every 39 seconds. ⁽¹⁷⁾
18. 279 days is the average lifecycle of a breach. In other words, 279 days is the amount of time it takes to contain a breach. ⁽¹⁸⁾
19. The average ransom paid by mid-sized organizations is $170,404. ⁽¹⁹⁾

20. 56% of organizations do not have a cyber incident response plan. And only 32% of the remaining 44% think that their plan is effective. ⁽²⁰⁾

21. 7,000 people reported losses of more than $80 million on cryptocurrency scams, according to Consumer Protection Data. ⁽²¹⁾

22. Customer personally identifiable information (PII) was the most common type of record lost or stolen at 44%. ⁽²²⁾
    
    

Palomar offers comprehensive Cyber Insurance Solutions that provide tailored coverage for cyber-related events. Email info@palomarins.com or call 800-489-0105 to learn more about our cyber solutions.

Note: Data is from sources cited, and every effort has been made to ensure that the information is accurate at the time of publishing.