As cybersecurity threats continue to rise worldwide, the need to secure your data behind an impermeable layer of defence is becoming essential over time. Whether you’re a Fortune 500 company or just a small startup, any person or organisation with a digital presence can be vulnerable to online attacks without the protection of cybersecurity solutions. But just how much of a danger can data breaches be to anyone? Here are five facts about data breaches and cybersecurity that you need to know.


1. FBI’s Growing List of Cyber Criminals

Ever since the FBI expanded their famed list of most wanted criminals in the country to include a list of the most notorious cyber attackers, the list has grown to now include more than 70 entries. These include people and organisations known for extortion, money laundering, economic espionage, identity theft, racketeering, as well as creating false social media profiles and spreading disinformation. Every year the list grows as the FBI identifies more threats.


2. Mobile Malware on the Rise

The virulent eyes of malware developers now focus on targeting mobile devices because of its rising popularity among users. Malicious software can be spyware, ransomware, or viruses that are designed to attack computers, laptops, servers, and now mobile devices. As more and more people jump into the mobile bandwagon, so are the number of entities bent on disrupting the mobile economy through their cyber attacks.


3. The Dangers of Third-Party App Stores

With all the new malware being released every day, where do they come from? 99.9% of the mobile malware known today is discovered and hosted in third-party app stores. A third-party app is a software application made by someone other than the manufacturer of a mobile device or its operating system. Although most of these developers create apps for Apple’s and Google’s operating systems, they are made available through third-party app stores where they have a lot more freedom over their distribution. Some of these apps come cheap or even free, but the cost of purchasing them is having dangerous malware installed on your device.


4. Rising Number of Identity Theft Victims

Nearly 60 million Americans have been affected by identity theft, while 15 million of them experienced it firsthand. This is primarily due to data breaches that expose your personal information and leave you vulnerable to attacks. Besides that, low-tech and offline methods also contribute to the spread of identity theft.


5. Average Cost of Data Breach Rises

No sane business owner would want to become a victim of identity theft and data breach. That’s because the average cost of data breaches has been rising since 2018. The average cost of data breach to companies worldwide now amount to 3.86 million USD, which is more than enough to push several companies out of business. While some of these companies invest in cybersecurity solutions for their protection, they still experience data breaches because of how fast hackers can bypass new security measures.


What’s worse is for small to medium-sized companies, it takes so long to realise they’ve been victimised by a data breach. The average time it takes to identify a data breach is about 196 days, which may be too late for some companies.


These facts show just how serious cyber threats are to companies, individuals, and our very own livelihood. Cybersecurity and intelligence have now become essential to everyone who has a digital footprint, which warrants investing in a trusted cybersecurity firm.


Protecting yourself from unwanted online attacks is now more critical than ever. As the leader among cybersecurity companies, FraudWatch International can be your partner when it comes to online fraud and brand protection. Our brand of protection will save your business from fraud losses, brand damage, and online abuse. Protect yourself and partner with us today!