Cybercrime Costs Organisations $1.79 Million Every Minute – RiskIQ Study

RiskIQ’s 2021 Evil Internet Minute Report. Says That Cybercrime costs organisations $1.79m every minute, according to

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The report examined the amount of illegal online activity and displayed the scope and harm caused by cyberattacks during the previous 12 months. It was discovered that there were 648 cyber threats every minute.

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According to the analysts, the average cost of a breach is $7.20 per minute, while the total anticipated spending on cybersecurity is $280,060 per minute.

Due to the move toward online buying brought on by the epidemic, e-commerce has been severely impacted by online payment fraud in the past year.

In the previous year, vulnerabilities in digital security cost the healthcare industry $13 per minute.

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Cybercrime Costs Organisations $1.79 Million Every Minute – RiskIQ Study

The report examined the effects of several forms of cybercrime. It revealed that every minute, 6 organizations become victims of ransomware, 525,600 records are compromised, and $3615 is lost to cryptocurrency frauds.

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The fact that one Magecart host was discovered every 31 minutes, one vulnerable Microsoft Exchange server was patched every 1.7 minutes, and one malicious mobile app was blacklisted every 5 minutes served as additional evidence of the scope of cyberattacks in 2021.

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Better threat technology has made cybercriminals more effective and wealthy than ever before, according to Lou Manousos, CEO of RiskIQ. With the aid of our Internet Intelligence Graph and outside sources, we have collated the enormous figures related to cybercrime during the previous year to aid businesses and researchers in understanding what they are up against.

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