The impact of cybercrime on companies in the U.S. - Statistics & Facts
In 2023, three in four companies in the United States were at risk of a material cyberattack, according to chief information security officers (CISO). Their concerns are based on the fact that the number of cyberattacks has been gradually increasing in recent years, amounting to 480 thousand in 2022. Thus, cybercrime remains one of the primary risks that companies in the United States face. Cyberattacks, if successful, might have serious consequences, the main one being financial damage. According to the forecast, in 2024, cybercrime will cost the U.S. more than 452 billion U.S. dollars. However, financial losses are not what company leaders are mostly concerned about but rather reputational damage.
The number of cybercrime incidents worldwide continues to rise. The United States, one of the largest online markets, is highly impacted by that. By 2028, the cost of cybercrime in the country is projected to reach 1.82 trillion U.S. dollars. This might be a good motivating force for companies to develop better solutions and implement new cybersecurity tools.
Common types of cyberattacks targeting U.S. companies
Network intrusion was the most common type of cyberattack U.S. companies faced in 2022. These might include various systems, such as implementing computer worms, launching distributed denial of service (DDoS), or man in the middle (MItM) attacks. In 2023, nearly seven in 10 organizations in the United States was hit by a ransomware attack within the last year. In 2022, over three thousand people nationwide became victims of phishing attacks, 1390362 while business e-mail compromise (BEC) attacks impacted nearly 22 thousand individuals.Data breaches in the United States
Loss of sensitive data is one of the main consequences of cyberattacks. In 2023, the United States ranked third worldwide by share of companies reporting a loss of sensitive information. In 2022, the 1,802 incidents of data compromise impacted around 422 million individuals in the country. The United States is among the countries with high data breach density. In the third quarter of 2023, there were almost 150 data breach incidents per thousand inhabitants.Which industries are most targeted?
The healthcare industry is by far the most targeted by cyberattacks, mostly ransomware, followed by critical manufacturing and government facilities. Ransomware attacks are proven to cause critical harm to healthcare organizations, often increasing the mortality rate or significant downtime in some organizations. LOCKBIT is the type of ransomware that targets the critical sector more frequently.Main cybersecurity challenges for U.S. companies
If managed properly, cybersecurity measures can mitigate and minimize the risks of cyberattacks. However, companies usually face challenges implementing security systems because of various reasons. The main challenge is usually raising awareness among employees. Majority of CISOs at American companies think that their biggest cyber vulnerability is the human error.The number of cybercrime incidents worldwide continues to rise. The United States, one of the largest online markets, is highly impacted by that. By 2028, the cost of cybercrime in the country is projected to reach 1.82 trillion U.S. dollars. This might be a good motivating force for companies to develop better solutions and implement new cybersecurity tools.
