The global cost of cybercrime per minute to reach $11.4 million by 2021

Cybercrime costs organizations $24.7, YOY increase of more than $2 every minute, a RiskIQ report reveals. It will also have a per-minute global cost of $11.4 million by 2021, a 100% increase over 2015.

cost cybercrime minute

The report 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

  • 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 vomain 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 Lou Manousos, CEO, RiskIQ.

Commonly used tactics

Tactics covered in the report range from phishing to domain infringement to supply chain attacks that target e-commerce, like the Magecart hacks that have increased by 30% since the COVID-19 outbreak began. The motives of cybercriminals include monetary gain, large-scale reputational damage, political motivations, and espionage.

“These stats show threat activity is widespread, but also show the power of threat intelligence in defending the enterprise,” Manousos said.

“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.”




Share this