Security Audit

Cyber Crime Statistics 2023: Cost, Industries, and Trends

Updated on: January 10, 2023

Cyber Crime Statistics 2023: Cost, Industries, and Trends

A rapid increase in cybercrime has been a visible, rattling trend that has been affecting a variety of industries. This article aims to better understand how cyber crimes are growing by analyzing related statistics. Along with cyber crime statistics 2023, this article will also analyze the growing trends as well as cyber security stats with relevant statistics and projections. 

cyber security statistics
cybercrime statistics
data breach statistics
healthcare data breaches statistics
phishing statistics
ransomware attack statistics
Small business cyber security statistics
3rd party data breaches
cyber insurance claims statistics

Top Cyber Crime Statistics 2023

Cyberscrime stats - 8 trillion by 2023
  1. The global annual cost of cybercrime is predicted to reach $8 trillion annually in 2023.
  2. The next five years are due to see a 15% increase in cybercrime costs reaching 10.5 trillion by 2025. 
  3. 80% of reported cyber crimes are generally attributed to phishing attacks in the technology sector. 
  4. At 16% phishing was the second most common reason for data breaches and the costliest averaging $ 4.91 million in breach costs.
  5. The cost of phishing attacks on companies has significantly risen through the years, with the $100 million loss faced by Facebook and Google in 2017 perhaps being one of the most infamous examples
  6. 2021 was one of the costliest years in terms of data breaches through phishing attacks in the last 17 years. 
  7. It was also seen that nearly 24% of all BEC phishing scams in 2021 aimed to try and divert employee payroll deposits.
  8. The average BEC attacks requesting wire transfers increased from $71,000 to $106,000 from 2020 to 2021. 
  9. Ransomware will cost its victims around $265 billion (USD) annually by 2031.
  10. Cybersecurity Ventures predicts crypto crime will cost the world $30 billion annually by 2025.

Cyber Crime Statistics Worldwide 2022

This section will list some of the major cybercrime statistics from the 2018-2022 period. This is relevant as there has been a steady increase in cyber attacks during this period which is contributing to the increase in cyber insurance claims. 

1. General Cyber Crime Statistics

  • $6 trillion – the damage that cybercrime caused in 2022.
  • 33 billion accounts will be breached in 2023.
  • Nearly 22 percent of all data breaches are accounted for by phishing thus securing it a position as one of the most prevalent cybercrimes in the FBI’s 2021 IC3 Report.
  • Cybercrime earns cybercriminals $1.5 trillion every year.
  • According to crimes reported to the FBI from 2020 to 2021, UK’s cybercrime density increased by over 40% when compared to 2020. 
  • Cybercrime has claimed at least 6.5 million victims over a 21-year period from 2001 to 2021 with an estimated loss of nearly $26 billion over the same period. 
Cyberscrime stats - 2001 to 2021
  • The cybercrime victim count increased drastically by 69% in 2020 during the COVID-19 pandemic when compared to 2019 from nearly 467k victims a year to 792k. 
  • The number of people under 20 falling victim to cybercrimes increased by 100% during the pandemic due to online studying from an average of 10,000 per year in 2019. 
  • Criminal activities that resulted in an increase in cyber claims increased from 69% in 2018 to 83% in 2020 for SMEs. 
  • Globally, those who experienced cybercrime in the past year spent an average of 6.7 hours resolving it for an estimated 2.7 billion hours lost in total. 
  • A Cyber claims Study by NetDiligence evaluated 5,797 claims data from 2016 to 2020 and found 32% for ransomware affecting SMEs, 10% hacking, and another 9% for business email compromise to be the root cause of losses sustained. 
  • Ransomware and business email compromise (BEC) attacks were the leading cause of losses from a five-year period of 2017-2021 at 44% and 50% between the periods of 2020 and 2021 alone.
  • Small businesses account for 43% of cyber attacks annually. 
  • Around 817 data breaches have been reported in the U.S. since H1 2022. 
  • According to IBM, phishing was one of the top attack vectors in cybercrime at 16%. 
  • 62% of attacks that did not stem from a cybersecurity error or misuse usually were carried out through the usage of stolen personal information obtained through phishing and or brute-force attacks. 
  • Intelligence is gathered using spear-phishing by 96% of threat actors.
  • Half the phishing e-mail attachments that are received are in the form of Microsoft documents like Word (39.3%), Executable (19.5%), Rich Text (14%), and Excel (8.7%).
  • Phishing websites were generally hosted on .com domains (40%), but threat actors also used other reputable domains like .org (1.8%) and .net (3%). 
  • Nearly 32 percent of phishing websites made use of HTTPS in 2020 to portray an image of assured security.
  • Cofense’s Q3 2021 phishing review shows that nearly 93% of modern breaches involve phishing attacks. 
  • Symantec’s 2019 Threat Report shows that 65% of cyber-attacks are perpetrated through spear phishing.
  • There were 654 reported ransomware attacks in the UK in 2021, double the 326 that were reported in 2020.
  • Ransomware complaints in the US increased by 82%, with a 449% rise in ransom payments between 2019 to 2021

2. Cyber Crime Cost Statistics

Cybercrime stats - Ransomware cost 2023
  • There was a $4.2 billion loss for victims in 2020 due to internet crimes. 
  • $1.85 million was the average cost of a ransomware attack. 
  • Global cybercrime damages per second cost around $190,000. 
  • $13 million is the average cost of cybercrime for organizations. 
  • 47% of cybercrime victims lose money as a result of the cybercrime committed.
  • Tech support frauds amounted to over $146 million, a 171% increase in losses from 2019. 
  • Victims of compromised personal and business email accounts experienced a loss of $1.86 billion in 2021.
  • The average ransom paid by mid-sized organizations is $170,404.
  • By 2021, global cybercrime rates involving damages will amount to $6 trillion per year, $500 billion per month, $115.4 billion per week, $16.4 billion per day, $684.9 million per hour, $11.4 million per minute, and $190,000 per second.
  • In 2020, internet crime victims over the age of 60 experienced $966 million in losses, while victims under 20 experienced almost $71 million in losses.
  • IBM’s Cost of Data Breach Report for 2021 found that phishing attacks were the second most expensive type of attack costing around $4.6 million.  
  • The difference in cost between companies that are largely compliant and those that are non-compliant was around $2.3 million. 
  • USA had the highest rate of costly data breaches in 2021 at $9.05 million according to IBM. 
  • The average data breach cost during remote working was $1 million higher than the pre-pandemic scenario. 
  • Organizations that did not evolve their IT to cope with the pandemic faced a breach that cost an average of $5.01 million. 
  • An average of $25,000 is lost by SMEs.
  • The average cost of cybercrime in the U.S. is 27.37 million US dollars.
  • Data breaches in the U.S. cost up to 9.44 USD on average. 

3. Cyber Crimes statistics worldwide 2022 With Details

Here are some of the serious cyber crimes that happened in 2022 with specific details. 

  1. Marriot Hotel

In 2022, June the hotel chain Marriot was hacked by a hacker stealing 20 GB worth of guest information. The hotel chain Marriot was hacked in 2020 resulting in the leak of over 5.2 million guests’ personal information. 

2. War In Ukraine

The war in Ukraine has been a major scope for scammers and other malicious attackers to take advantage of through donation and fundraising scams. Using subject lines such as “ Help save children from Ukraine” are used to target victims via emails. Ukraine war-related cyber crime statistics:

Phishing emails in the Slavic language saw a 7-fold increase since the onset of the war.   

The malware was placed on Ukrainian systems under the offer of free data decryption but was to wipe out the systems. 

3. Shields Health Care Group

The Shields healthcare data breach is the largest data breach reported in 2022. Shield Health Care Group, a Massachusetts-based company detected suspicious network activity on March 28th of 2022. 

Further inquiry revealed that a malicious actor gained access to certain Shields systems. It affected major partners like Tufts Medical Center and UMass Memorial MRI.

The data breach affected over 2 million individuals revealing their social security numbers, diagnoses, billing information, medical records, and PII like addresses, dates of birth, patient IDs, and more.

4. Broward Health

Broward Health based in Florida reported a data breach affecting 1.35 million people on January 2nd of 2022. 

It was reported that the breach occurred through gaining access from a third-party medical provider. 

The health system said the intruders accessed private data including patient names, dates of birth, and Social Security numbers. 

5. Novant Health

Novant Health reported that a misconfiguration in Meta pixel code potentially led to the unauthorized disclosure of protected health information (PHI) of 1,362,296 individuals. 

Meta, Facebook’s parent company faces two lawsuits in lieu of this since the evidence was found that improper configuration of Meta Pixel has led to the disclosure of sensitive information to Meta. 

Novant Health notified its patients and physicians and facilities regarding the possibility of information disclosure. However, there was no reported usage of the disclosed information by Meta or any third party.

Emerging Cyber Crime Statistics and Trends

This section will analyze the most popular trends in cybercrime and statistics related to them. 

1. Phishing Scams

Phishing scams are a form of social engineering designed to retrieve data from unsuspecting users through the impersonation of reputable websites and authorities to whom victims might reveal information.

Cyberscrime stats - Phishing
  • Phishing continues to be common cybercrime for three years in a row. 
  • 2021 saw a total of 323,972 phishing victims.
  • On average phishing, victims lost the least amount of money at $136 per victim when compared to other types of attacks like investment fraud. 
  • Nearly thirty percent of phishing emails are opened increasing the chances of opening or downloading from malicious links that contain ransomware or malware.
  • The most common reasons mentioned as motivations for phishing are 10% for disruption of site services and 6% for financial gains. 
  • 88% of healthcare workers opened phishing emails.
  • Phishing and other forms of cyber attacks have seen a 75% increase in 2021.
  • The HIMSS survey revealed that 36% of non-acute care organization representatives claimed that their organization did not conduct phishing tests.
  • A report analyzed by Health IT revealed that nearly 24% of health employees in the U.S. hadn’t received any cybersecurity awareness training to help identify phishing scams.

2. BEC Attacks

Business email compromise attacks are email blasts that look or mimic authenticated websites and services but are in fact, phishing mail targeted to make individuals reveal personal information. 

  • 1,153 cyber insurance claims in 2022 were due to business email compromise scams. 57% of these BEC attacks occurred in 2020 and 2021. 
  • Business email compromise showed about 10% of the total incident cost in case of cyber insurance claims in 2022. 
  • It is suggested that nearly 1.2% of all emails sent are malicious in nature, which in numbers translated to 3.4 billion phishing emails a day. 
  • One of the most expensive phishing attacks was through compromised emails with around 19,369 complaints having a loss of $ 1.8 billion. 
  • The most commonly used words for phishing e-mails are important (5.4%), attention (2.3%), urgent (8%), and important updates (8%).
  • A 2019 survey by HIMSS Cybersecurity revealed that nearly 60% of hospital representatives and healthcare IT professionals said that emails were the most common cause of data compromise. 
  • Healthcare email frauds have seen exponential growth at 473%. 
  • Healthcare organizations were targeted at an average of 96 email frauds every quarter. 
  • 70% of the fraud emails to healthcare institutions were sent during office timings between 7 A.M. and 1 P.M. 

3. Social Media Scams

Another trend is attacking through social media platforms such as  Instagram and more through strangers’ messages leading to account takeover by malicious attackers. 

  • Nearly 8% of social media cyberattacks are through phishing. 
  • LinkedIn phishing messages account for 47% of all social media phishing attempts.
  • In 2019, Facebook breaches were a major cause of data leakages.
  • 50,000 and more Zoom account details were sold on the dark web for as little as $0.0020 per account. 
  • A large percentage of online fraud (70%) is now accomplished through mobile applications.

4. DDoS Attacks

DDoS attacks can take down even the largest websites by overloading a server with a maximum number of junk requests. Here are some relevant DDoS statistics. 

  • 5fth leading cause of cyber threats at 3.63/5. 
  • Bitcoin was threatened by a DDoS attack unless a ransom of 5-10 Bitcoins was paid in 2020. 
  • DDoS attacks breached the 10 million mark for annual attacks in 2020.
  • During the COVID-19 period, the month of May saw the most DDoS attacks with 929,000 recorded.
  • 2021 saw upwards of 9.84 million DDoS attacks, with 73% targeting education, finance, government, and healthcare. 

5. Ransomware Attacks

Ransomware is malicious malware, designed to deny access to a computer system or data until a ransom is paid. Ransomware is spread mainly through phishing emails. 

  • In 2018 it was estimated that by 2022 a ransomware or phishing attack will occur every 11 seconds.
  • Malware and ransomware are increasingly targeting businesses having claimed over 4.5k victims in 2021. 
  • 55% of 1500 claims from 2019 to 2021 occurred due to ransomware. 
  • 2,123 claims in 2022 were due to ransomware, 45% of which occurred in 2020 and 2021.
  • Ransomware was the top cause of loss in SMEs at 51% of total incident cost followed by hacking at 18%.
  • 74% of ransomware attacks were aimed at hospitals, and 26% at secondary institutions like dental services and nursing homes. 
  • It was estimated that ransomware attacks would quadruple from 2017 to 2020 and grow 5x by 2021. 
  • 2020 saw nearly 560 healthcare facilities fall victim to ransomware attacks. 
  • 8% of healthcare data breach claims were triggered by ransomware attacks. 

Conclusion

These cybercrime statistics for 2023 clearly show the current trend and cases of cyber crimes and the trend with which the market is progressing towards 2023 and beyond. Keep a lookout and stay constantly updated on cybersecurity so your organization doesn’t end up as a statistic.

Sources:

  1. https://surfshark.com/research/data-breach-impact/statistics
  2. https://www.symantec.com/content/dam/symantec/docs/reports/istr-24-2019-en.pdf
  3. https://purplesec.us/resources/cyber-security-statistics/
  4. https://us.norton.com/blog/emerging-threats/cybersecurity-statistics#pt4

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Nivedita James

Nivedita is a technical writer with Astra who has a deep love for knowledge and all things curious in nature. An avid reader at heart she found her calling writing about SEO, robotics, and currently cybersecurity.
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