23 Apr Unmasking The True Cost Of Cyberattacks: Beyond Ransom And Recovery
in Blogs
This week in cybersecurity from the editors at Cybercrime Magazine
– Read the Full Story in the Hacker News
Sausalito, Calif. – Apr. 23, 2024
While many people tend to focus on understanding how and why they were targeted by security breaches, there’s a larger, more pressing question, according to The Hacker News: What is the true financial impact of a cyberattack?
According to research by Cybersecurity Ventures, the global cost of cybercrime is projected to reach an astonishing $10.5 trillion USD annually by 2025, which marks a dramatic increase from the $3 trillion USD reported in 2015.
While the financial burden of ransomware payments and data recovery is undeniable, the true cost of a cyberattack goes far beyond immediate expenses. For businesses, in particular, the impact seems to be multifold. A breakdown by The Hacker News lists just some of the hidden costs: revenue loss; strained relationships with customers and suppliers; and regulatory fines and increased insurance premiums.
Read the Full Story
Cybercrime Magazine is Page ONE for Cybersecurity. Go to any of our sections to read the latest:
- SCAM. The latest schemes, frauds, and social engineering attacks being launched on consumers globally.
- NEWS. Breaking coverage on cyberattacks and data breaches, and the most recent privacy and security stories.
- HACK. Another organization gets hacked every day. We tell you who, what, where, when, and why.
- VC. Cybersecurity venture capital deal flow with the latest investment activity from various sources around the world.
- M&A. Cybersecurity mergers and acquisitions including big tech, pure cyber, product vendors and professional services.
- BLOG. What’s happening at Cybercrime Magazine. Plus the stories that don’t make headlines (but maybe they should).
- PRESS. Cybersecurity industry news and press releases in real time from the editors at Business Wire.
- PODCAST. New episodes daily on the Cybercrime Magazine Podcast feature victims, law enforcement, vendors, and cybersecurity experts.
- RADIO. Tune into WCYB Digital Radio at Cybercrime.Radio, the first and only round-the-clock internet radio station devoted to cybersecurity.
Contact us to send story tips, feedback and suggestions, and for sponsorship opportunities and custom media productions.