Cybercrime now costs the global economy more than one trillion dollars — each year. This staggering figure is just over 1% of global GDP. This recent data shows how the cost has increased more than 50% since 2018 where global losses were around 600 billion dollars.
It will come as no surprise that cyber-attacks increased to record numbers in 2020, given the disruption and turbulence caused by a global pandemic. 2020 was the busiest year on record for UK cyber-attacks against businesses, with a 20% increase in attempted hacks from 2019. Beaming found that an attack was initiated every 46 seconds on average — with UK businesses each facing an average of 686,961 attempts to breach their defences.