While it may feel like cybercrime is an invisible threat lurking in the digital shadows, the staggering numbers tell a chillingly clear story: global cybercrime costs reached a colossal $8 trillion in 2023, a frightening 15% jump driven by an alarming surge in ransomware and phishing attacks that are setting new and costly records almost daily.
Key Takeaways
- Global cybercrime costs reached $8 trillion in 2023, a 15% increase from $7 trillion in 2022, driven by ransomware and phishing attacks
- Cybercrime damages projected to hit $10.5 trillion annually by 2025, doubling from 2020 levels
- Worldwide cyber attacks hit 2,915 per week in 2023, 30% more than 2022 average
- Ransomware attacks surged 93% in the first half of 2023 compared to 2022, with over 2,000 incidents reported worldwide
- Ransomware payments hit $1.1 billion in 2023, 20% higher than $916 million in 2022
- LockBit ransomware group claimed 1,700 victims in 2023, a 50% increase from prior year
- Phishing attacks increased by 58% year-over-year in 2023, affecting 300 million users globally
- Spear-phishing incidents rose 161% in 2023, targeting executives with personalized lures
- Smishing attacks (SMS phishing) grew 328% in 2023, with 1.3 million incidents
- Data breaches exposed 4.88 billion records in the first nine months of 2023, up 72% from 2022
- US data breaches increased to 3,205 in 2023 from 1,802 in 2022, a 78% jump
- Healthcare data breaches rose 264% in 2023, exposing 112 million records
- Business Email Compromise (BEC) scams caused $2.9 billion in losses in 2023, a 7% rise from 2022
- Cryptocurrency scams defrauded victims of $5.6 billion in 2023, up 38% from 2022
- Investment fraud via crypto platforms surged to $3.9 billion losses in 2023, 53% up
Cybercrime damages surged across all sectors in 2023, setting alarming new records.
Data Breaches
- Data breaches exposed 4.88 billion records in the first nine months of 2023, up 72% from 2022
- US data breaches increased to 3,205 in 2023 from 1,802 in 2022, a 78% jump
- Healthcare data breaches rose 264% in 2023, exposing 112 million records
- Retail sector saw 1,300 data breaches in 2023, up 45% from 2022
- Financial services breaches exposed 353 million records in 2023, 81% increase
- Education sector breaches up 150% in 2023, affecting 750,000 students
- Government breaches rose 75% in 2023, leaking 50 million records
- Energy sector data breaches doubled to 120 in 2023
- Manufacturing breaches up 300% in 2023, costing $5 million average
- Hospitality breaches exposed 10 million cards in 2023, 50% rise
- Transportation breaches tripled to 90 in 2023
- Legal sector breaches up 78% to 250 in 2023
- Non-profits saw 200% breach increase to 150 incidents in 2023
- Telecom breaches leaked 1.2 billion records in 2023, up 40%
- Media/entertainment breaches up 90% to 80 in 2023
- Utility sector breaches rose 50% to 50 incidents in 2023
- Real estate breaches exposed 5 million records in 2023, 60% up
- Academia breaches up 100% to 300 in 2023
- Construction breaches rose 120% to 110 in 2023
- Agriculture breaches doubled to 40 in 2023
- Pharma breaches exposed 20 million health records in 2023, 80% up
Data Breaches Interpretation
It seems in 2023 every industry decided to host a 'hacker's happy hour', resulting in an RSVP list of billions of exposed records and a bar tab of skyrocketing breach rates.
Financial Fraud
- Business Email Compromise (BEC) scams caused $2.9 billion in losses in 2023, a 7% rise from 2022
- Cryptocurrency scams defrauded victims of $5.6 billion in 2023, up 38% from 2022
- Investment fraud via crypto platforms surged to $3.9 billion losses in 2023, 53% up
- Romance scams led to $1.3 billion losses in 2023, a 20% annual increase
- Tech support scams cost $1 billion in 2023, 25% more than previous year
- Elder fraud via wire transfers reached $3.4 billion in 2023, 11% increase
- Pig butchering scams caused $4 billion losses in 2023, tripling from 2021
- Gift card fraud drained $217 million in 2023, up 15%
- Job scams on LinkedIn caused $500 million losses in 2023
- Cryptojacking incidents surged 29% to 70 million in 2023
- Prize promotion scams netted $330 million in 2023, 18% up
- Government impersonation fraud cost $2.7 billion in 2023
- Rental scams defrauded $400 million in 2023, 30% rise
- Fake parcel delivery scams cost $500 million in 2023
- Online shopping fraud losses hit $48 billion globally in 2023, 20% increase
- Fake check scams caused $300 million losses in 2023, up 10%
- Vehicle purchase scams netted $80 million in 2023
- Immigration scams cost $250 million in 2023, 22% increase
- Lottery scams drained $150 million in 2023
- Recovery room scams cost $1 billion in 2023, up 27%
Financial Fraud Interpretation
While criminals have diversified their portfolio with alarming creativity, from stealing hearts and crypto to impersonating governments and bosses, the sobering bottom line is that our collective digital wallet is being picked clean at a record and accelerating pace.
Overall/Global Cybercrime Costs
- Global cybercrime costs reached $8 trillion in 2023, a 15% increase from $7 trillion in 2022, driven by ransomware and phishing attacks
- Cybercrime damages projected to hit $10.5 trillion annually by 2025, doubling from 2020 levels
- Worldwide cyber attacks hit 2,915 per week in 2023, 30% more than 2022 average
- Cyber insurance claims rose 50% in 2023 to $1.4 billion payouts globally
- DDoS attacks peaked at 15 million in 2023, 200% surge from 2022
- Dark web cybercrime markets grew 20% in listings to 50 million items in 2023
- Botnet-driven attacks hit 7.9 billion in 2023, 10% annual growth
- Phishing sites detected rose to 1.5 million monthly in 2023, 25% increase
- Ransomware-as-a-Service offerings grew 60% to 100 groups in 2023
- Cyber extortion demands hit $20 billion in 2023, double 2022
- Malware downloads spiked 35% to 5.5 billion in 2023
- IoT botnet attacks grew 150% to 1 million devices in 2023
- Credential stuffing attacks hit 200 billion in 2023, 25% up
- Supply chain attacks rose 42% to 1,200 in 2023
- Phishing simulations failed 30% more employees in 2023 tests
- Ransomware incidents reported to CISA doubled to 1,400 in 2023
- Cybercrime victimization rate hit 22% of adults in 2023 US survey, up 5%
- Global cyber attack volume reached 2,200 per organization daily in 2023, 28% up
- Darknet stolen data sales up 50% to 15 billion records in 2023
- Phishing accounted for 36% of breaches in 2023 DBIR, up from 22%
Overall/Global Cybercrime Costs Interpretation
The cybercrime statistics for 2023, a year where our collective digital security apparently napped at the wheel, paint a picture of a global heist so brazen it makes bank robberies look like quaint hobbies, with costs ballooning to a staggering $8 trillion and every metric from phishing to ransomware screaming that the bad guys are not only winning but are also having a disturbingly efficient yard sale on the dark web.
Phishing and Social Engineering
- Phishing attacks increased by 58% year-over-year in 2023, affecting 300 million users globally
- Spear-phishing incidents rose 161% in 2023, targeting executives with personalized lures
- Smishing attacks (SMS phishing) grew 328% in 2023, with 1.3 million incidents
- Vishing (voice phishing) calls increased 220% in 2023, targeting elderly victims
- Email phishing success rate hit 11% in 2023, up from 7% in 2022
- Quishing (QR code phishing) incidents rose 51% to 10,000 in 2023
- Business email compromise attacks increased 22% to 21,000 in 2023 US
- Multi-channel phishing campaigns surged 300% in 2023
- Deepfake phishing incidents tripled to 3,000 in 2023
- Watering hole attacks increased 400% targeting enterprises in 2023
- Adversary-in-the-middle phishing rose 70% in 2023
- Brand impersonation phishing hit 85% of orgs in 2023, up 20%
- Push notification phishing scams increased 10x in 2023
- SEO poisoning phishing pages grew 600% in 2023
- Malicious QR code scans surged 25% to 8 million in 2023
- Text-based phishing attacks doubled to 2 million in 2023
- Adversarial AI phishing tests fooled 40% more users in 2023
- Hybrid phishing (email+SMS) grew 150% in 2023
- Pixel phishing kits used in 50,000 attacks in 2023, up 300%
- Voice cloning phishing incidents hit 1,000 in 2023, 5x growth
- SMS phishing open rates hit 10% in 2023, double 2022
Phishing and Social Engineering Interpretation
The bad guys have apparently decided that if throwing one carefully crafted digital lure doesn’t hook you, then blitzing you from your inbox, phone, billboards, and even your own smart fridge must do the trick.
Ransomware Statistics
- Ransomware attacks surged 93% in the first half of 2023 compared to 2022, with over 2,000 incidents reported worldwide
- Ransomware payments hit $1.1 billion in 2023, 20% higher than $916 million in 2022
- LockBit ransomware group claimed 1,700 victims in 2023, a 50% increase from prior year
- Conti ransomware variants caused $1.75 billion in damages in 2023, doubling 2022 figures
- Ryuk ransomware attacks tripled in 2023, extorting $150 million
- BlackCat ransomware hit 500 organizations in 2023, doubling victims
- Hive ransomware extracted $100 million before shutdown in 2023, 40% up
- Clop ransomware exploited MOVEit flaw for 2,000 victims in 2023
- Akira ransomware emerged with 50 attacks in late 2023, rapid growth
- REvil successors hit 300 victims in 2023, up from 150
- LockBit 3.0 variants caused 62% of ransomware attacks in Q4 2023
- ALPHV/BlackCat extorted $300 million in 2023
- Medusa ransomware claimed 80 victims in Q3 2023 alone
- BianLian ransomware targeted 90 healthcare orgs in 2023
- Rhysida ransomware hit 100 orgs including hospitals in 2023
- Play ransomware extorted 60 victims in first year 2023
- 8Base ransomware attacked 200 orgs in 2023
- DragonForce ransomware claimed 30 victims in Q4 2023
- NoEscape ransomware hit 60 orgs post-July 2023 launch
- RansomHub ransomware emerged with 100 victims by end 2023
- Snatch ransomware persisted with 200 attacks despite sanctions in 2023
Ransomware Statistics Interpretation
Cybercrime's 2023 annual report reads less like a warning and more like a ransom note signed in blood by a booming, diversified, and horrifyingly efficient industry.
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