Cyber incident, breach report shows uptick in cyber crime

A recently released Cyber Incident & Breach Trends Report reveals significant growth in cyber crime, which racked up  $45 billion in 2018, up tens of billions of dollars from the previous year. Internet Society’s Online Trust Alliance (OTA) compiled the report identifying trends through sources including the Federal Bureau of Investigation, Symantec, prominent cybercrime journal […]

2018 Incident Highlights based on various resources include:

  • 95% of breaches could have been prevented (ISOC)
  • 3.2% decrease in reported breach incidents (RBS)
  • 5 billion records exposed, a 35.9% decrease (RBS)
  • $8 billion financial impact of ransomware (CV)
  • 12% rise in business targeted ransomware (Symantec)
  • $12.5 billion in global EAC/BEC losses since 2013 (FBI)

According to an article in CPO Magazine, “One thing that all of this data on cyber attack trends suggests is that criminals are shifting from large-scale, indiscriminate attempts on lots of individuals to more focused attacks directed specifically at businesses that have significant resources. For example, businesses were targeted by ransomware 12% more frequently in 2018 and the losses to it shot up from about $2 billion to $8 billion in just one year.”

Read the full story here.

LEVERAGE offers cybersecurity solutions to help product your credit union. Click here for details.

Written by
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

Social Channels

Follow us on all major social media platforms.