The Latest Cybersecurity In The Cannabis Industry Statistics Explained
There is approximately a 1 in 4 chance that a marijuana business will experience a cyber security breach.
This statistic indicates that 25% of marijuana businesses are likely to experience a cyber security breach. This probability suggests that a considerable portion of such businesses are vulnerable to cyber attacks, highlighting the importance of implementing robust security measures to protect sensitive data and mitigate potential risks. The 1 in 4 chance signifies a significant level of threat in the industry, emphasizing the need for proactive measures such as regular monitoring, updating security protocols, and providing staff training to enhance cyber resilience and safeguard the integrity of the business.
Around 19% of cyber breaches in the cannabis industry are due to physical theft.
The statistic suggests that approximately 19% of cybersecurity breaches within the cannabis industry are a result of physical theft. This implies that a notable portion of security incidents in this industry stem from breaches where physical assets or devices are stolen, leading to potential data compromises or unauthorized access to sensitive information. The significance of this statistic underscores the importance of implementing robust physical security measures in addition to cybersecurity protocols to protect assets and data within the cannabis sector. Organizations operating within this industry may need to prioritize safeguarding against physical theft as part of their overall security strategy to mitigate the risks associated with breaches and potential data breaches.
Approximately 28% of cyberattacks on the cannabis industry involve malware.
The statistic states that around 28% of cyberattacks targeting the cannabis industry involve malware. This suggests that malware, which refers to malicious software designed to disrupt, damage, or gain unauthorized access to computer systems, is a significant threat to the security of businesses operating within the cannabis sector. As cyberattacks continue to pose a growing risk to industries globally, the prevalence of malware in targeting the cannabis industry highlights the importance of implementing robust cybersecurity measures to protect sensitive information, intellectual property, and financial assets from malicious actors aiming to exploit vulnerabilities within the sector. Organisations in the cannabis industry should prioritize cybersecurity efforts, such as regular software updates, employee training, and network monitoring, to mitigate the risks associated with malware and other cyber threats.
In 2018, 23% of all cyber breaches in this industry were the result of payment card skimmers.
This statistic indicates that in the year 2018, 23% of all cyber breaches within a specific industry were attributed to payment card skimmers. Payment card skimmers are malicious devices used to capture payment card information, typically installed on point-of-sale terminals or ATMs. The fact that nearly a quarter of all cyber breaches were due to payment card skimmers highlights the significant threat these devices pose to the security of payment card information within the industry. This statistic underscores the importance for businesses in this industry to implement robust security measures to protect against such attacks and to regularly monitor and update their systems to safeguard against potential breaches.
Cybersecurity spending in cannabis businesses is projected to reach $2 billion by 2022.
This statistic indicates that spending on cybersecurity measures within the cannabis industry is expected to increase significantly, reaching $2 billion by the year 2022. This projection reflects the growing recognition of the importance of cybersecurity in protecting sensitive data, financial transactions, and customer information within the cannabis sector. As the industry expands and becomes more regulated, businesses are ramping up their investment in cybersecurity to prevent cyber threats, such as data breaches and hacks, which could have severe consequences. By allocating resources toward cybersecurity, cannabis businesses aim to strengthen their defenses and safeguard their operations against evolving cyber risks in a fast-paced and increasingly digital market environment.
Only 26% of cannabis businesses have a cybersecurity response plan in place.
This statistic indicates that a majority of cannabis businesses, specifically 74%, do not have a cybersecurity response plan in place. A cybersecurity response plan outlines the steps a business will take to prevent, detect, and respond to cyber threats and security breaches. With the increasing digitalization of businesses and the growing prevalence of cyberattacks, the lack of preparedness among cannabis businesses could leave them vulnerable to data breaches, financial losses, and reputational damage. It is essential for cannabis businesses to prioritize cybersecurity measures and implement robust response plans to protect their sensitive information and maintain the trust of their customers.
About 16% of cannabis businesses have been hit with phishing attacks in the past.
The statistic “About 16% of cannabis businesses have been hit with phishing attacks in the past” suggests that approximately 16 out of every 100 cannabis businesses have experienced phishing attacks targeted towards their organizations. Phishing attacks are a type of cybercrime where fraudulent emails or messages are used to deceive individuals into providing sensitive information, such as login credentials or financial details. This statistic indicates that a notable proportion of cannabis businesses have been vulnerable to such attacks, highlighting the importance of implementing robust cybersecurity measures to protect sensitive data and mitigate potential risks in the industry.
In 2020, ransomware accounted for around 25% of breaches in the cannabis industry.
The statistic indicates that in the year 2020, approximately a quarter of security breaches reported within the cannabis industry were attributed to ransomware attacks. Ransomware is a type of malicious software that encrypts or disables access to a victim’s data, demanding a ransom for its release. This statistic suggests that ransomware attacks posed a significant threat to the cybersecurity of cannabis businesses during that year, potentially resulting in data loss, financial costs, and reputational damage. It underscores the importance for organizations in the cannabis industry to invest in robust cybersecurity measures to protect against such attacks and safeguard their sensitive data.
Only 28% of cannabis businesses conducted vulnerability tests last year.
The statistic ‘Only 28% of cannabis businesses conducted vulnerability tests last year’ indicates that a relatively low proportion of cannabis businesses took proactive measures to assess and address potential vulnerabilities in their operations in the previous year. Vulnerability tests typically involve identifying weaknesses in systems, processes, or infrastructure that could be exploited by internal or external threats, such as cyber attacks, regulatory compliance issues, or physical security risks. The fact that only 28% of cannabis businesses undertook these tests suggests that a significant portion of the industry may be operating without a comprehensive understanding of their vulnerabilities and potential risks, which could leave them more susceptible to disruptions or adverse events.
References
0. – https://www.cannabisindustryjournal.com
1. – https://www.www.veridiumid.com
2. – https://www.greenit.fr
3. – https://www.www.marijuanaventure.com
4. – https://www.www.ontrack.com
