Cyberattacks have surged during the coronavirus pandemic. This infographic details ransomware attack trends by industry, continent, and more.
In recent months cyberattacks have increased as criminals look to exploit the coronavirus pandemic. In fact, the FBI reported a fourfold increase in cybercriminal activity earlier this year. To help detail recent attack trends, cybersecurity technology company, Lumu, published a 2020 Ransomware Flashcard. Overall, the Lumu flashcard essentially functions as an all-in-one infographic compiling 2020 ransomware trends from an amalgam of sources across the cybersecurity industry.
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Ransomware: Frequency, affected sectors, global trends, and more
In one section, the flashcard categorizes cyberattacks into three categories (data breach, malicious breach, and ransomware attacks) to provide a comparative analysis of the average cost of each type of attack. The average cost of a data breach is $3.86 million, a malicious breach cost $4.27 million, and a ransomware attack costs about $4.44 million, according to IBM’s 2020 Cost of a Data Breach report.
A portion of the flashcard provides a global view of ransomware attacks based on CyberEdge’s 2020 “Cyberthreat Defense Report.” In North America, ransomware attacks affected nearly seven-in-10 companies (69%) compared to 55% of companies in Asia and Oceania. Ransomware attacks affected about six-in-10 (61%) companies in both Latin America, the Middle East, and Africa compared to 57% of European companies.
Another section of the flashcard breaks down ransomware attacks by industry using Safety Detectives’ 2020 “Ransomware Facts, Trends & Statistics” report. In North America, the governmental sector topped all listed industries with 15.4% of these bodies reporting a ransomware attack in the previous year.
Manufacturing organizations ranked second with 13.9% of companies in this sector reporting a ransomware attack in the last 12 months, followed by the construction industry with 13.2%. On the other end of the spectrum, 4.6% of financial organizations and 5% of education bodies reported a ransomware attack during this time period.
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Increased cyberattacks and organizational planning
Additionally, the flashcard also highlights forecasted trends in cyberattacks using a Cybersecurity Ventures report. Based on these estimates, the cumulative cost of cyberattacks could rise to $20 billion by 2021 from $11.5 billion in 2019. By 2021, a ransomware attack is expected to take place every 11 seconds according to this data. However, about one-quarter (28%) of small and midsized businesses (SMBs) lack a plan designed to mitigate ransomware attacks, according to a 2020 Infrascale survey.