Cybercrime and malicious hacking is something that has impacted virtually every facet of life. Most major tech companies have suffered really serious hacks, and even the mighty US government has not been safe from malicious actors with all things having been considered and taken into account. Atlas VPN recently drew up a report that is meant to provide a bit more information about how much money has actually been lost in cybercrimes, and these statistics go all the way back to 2015.
The total amount that has been lost to cybercrimes since 2015 is in excess of $25 billion, which comes up to just under $5 billion dollars that corporations lose on an annual basis due to such types of hacks. With all of that having been said and now out of the way, it is important to note that a lot of the losses might not involve cash directly being drained for a company either. Much of this financial loss would have to do with reputational risks because of the fact that this is the sort of thing that could potentially end up making consumers lose faith in the organization that ended up getting hacked and would therefore be unwilling to trust said enterprises with their precious data.
Major data breaches and cyber attacks can result in share prices falling, and it can take the affected company a really long time to repair their reputation once the hack has been performed. Over $6 billion in losses came from people’s credentials such as their log in details being stolen which makes this the most costly form of data for a corporation to lose. If such major entities are unable to defend themselves from cyber attacks, this does not bode well for the common man who might not have any major defenses at their disposal.
Read next: This Year Saw 64 Percent More Ransomware Attacks
The total amount that has been lost to cybercrimes since 2015 is in excess of $25 billion, which comes up to just under $5 billion dollars that corporations lose on an annual basis due to such types of hacks. With all of that having been said and now out of the way, it is important to note that a lot of the losses might not involve cash directly being drained for a company either. Much of this financial loss would have to do with reputational risks because of the fact that this is the sort of thing that could potentially end up making consumers lose faith in the organization that ended up getting hacked and would therefore be unwilling to trust said enterprises with their precious data.
Major data breaches and cyber attacks can result in share prices falling, and it can take the affected company a really long time to repair their reputation once the hack has been performed. Over $6 billion in losses came from people’s credentials such as their log in details being stolen which makes this the most costly form of data for a corporation to lose. If such major entities are unable to defend themselves from cyber attacks, this does not bode well for the common man who might not have any major defenses at their disposal.
Read next: This Year Saw 64 Percent More Ransomware Attacks
