Report shows $11.4M lost globally every minute to cybercrime
RiskIQ released its annual "Evil Internet Minute" report. The company analyzed the volume of malicious activity on the internet, revealing that cybercrime costs organizations $24.7 per minute, a year-over-year increase of more than $2 every minute. The report uses research from Cybersecurity Ventures which projects that it will have a per-minute global cost of $11.4 million by 2021, a 100% increase over 2015.
The 2020 Evil Internet Minute covers the top threats facing today's organizations, which are proliferating at a clip of 375 per minute, and reflects the current surge in attacks leveraging the COVID-19 pandemic.
Other malicious activity covered in the 2020 Evil Internet Minute includes:
● 1.5 attacks on computers with an Internet connection per minute
● 375 new threats per minute
● 16,172 records compromised per minute
● 1 Vulnerability disclosed every 24 minutes
● 5.5 Domain infringements detected per minute
● 1 Magecart attack every 16 minutes
● 1 COVID-19 blacklisted domain every 15 minutes
● 35 COVID-19 spam emails analyzed per minute
"The sheer scale of today's threat activity is driven by a variety of factors, including that cybercrime is easier than ever to participate in and better threat technology makes cybercriminals more effective and wealthier than in the past," said RiskIQ CEO Lou Manousos.
"These stats show threat activity is widespread, but also show the power of threat intelligence in defending the enterprise," Manousos added. "More knowledge, greater awareness, and an increased effort to implement necessary security controls make a huge difference in stopping these threat actors in their tracks."
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