The Big Business of Hacking Small Business
Here are some stats that should frighten you if you are running a business of under 100 employees:
• 71 Percent of all data breaches are waged against companies with under 100 employees
• If your company data is breached it will cost you at least $36,000
• 80% of all emails sent globally (180 billion a day) are either spam or malicious
• 1 out of 10 people who are sent an email containing malicious links will click the link
In the coming weeks Logic will be putting together some information on how to protect your business from this increasing threat, however this article is to examine the underlying business drivers of why hackers are now easily hacking small to medium businesses.
Firstly, there has been one major change giving hackers a major incentive – Crypto currency. Currencies such as Bit Coin which are virtual and completely untraceable have attracted organised crime to cyber crime.
Using software written to damage data, cyber criminals are able to extort small sums of money ($50 worth of bit coins) from victims by sending them a copy of this software (mal ware). Victims are told their data is scrambled and the $50 will unscramble their data.
But here are the real numbers and the real reason organised crime is now intently interested:
– 180 billion emails are sent every day globally
– 5% of those are malicious – 9 billion opportunities per day to earn money
– At a 0.1% success rate and a $20 unscrambling fee it is an $180,000,000 per day opportunity or $66 billion per year.
Now, if you were a criminal and from a bedroom in Russia, you could launch a virus that could earn you millions of dollars per day – I am certain you would be interested.
No more killing people, no more bribing politicians, none of the usual mess that comes with drug smuggling or traditional organised crime activities.