In the evolving landscape of the marijuana industry, cybersecurity has emerged as a critical concern for businesses operating in this sector. As more states legalize the use of cannabis for medicinal and recreational purposes, the industry’s reliance on technology and data-driven processes has also increased. In this blog post, we will dive into the statistics surrounding cybersecurity in the marijuana industry, exploring the challenges and trends that cannabis businesses face in safeguarding their digital assets and customer information.
The Latest Cybersecurity In The Marijuana Industry Statistics Explained
According to Kaspersky, the cannabis sector lost about $100 million due to cyber attacks in 2019.
The statistic provided by Kaspersky indicates that the cannabis sector experienced significant financial losses amounting to approximately $100 million as a result of cyber attacks in the year 2019. This suggests that the cannabis industry faced a substantial threat from cybercriminals targeting their systems, networks, and sensitive data, ultimately compromising their security measures and leading to financial repercussions. These attacks could have resulted in data breaches, theft of intellectual property, disruption of operations, or ransom demands, highlighting the vulnerability of the cannabis sector to cyber threats and the importance of implementing robust cybersecurity measures to safeguard against future attacks.
As per Cybereason, 90% of cannabis businesses are targets of cyber-attacks.
The statistic “As per Cybereason, 90% of cannabis businesses are targets of cyber-attacks” indicates that an overwhelming majority of companies operating in the cannabis industry experience cyber-attacks. This information highlights a high level of vulnerability within the cannabis sector, with nine out of every ten businesses being targeted by cybercriminals. Such a high percentage suggests that cannabis businesses face significant cybersecurity risks and challenges, underscoring the importance of investing in robust cybersecurity measures to protect sensitive data and assets from potential breaches and cyber threats.
Baker Tilly reports that the cost per record of a data breach for the cannabis industry is around $150.
The statistic provided by Baker Tilly states that the cost per record of a data breach in the cannabis industry is approximately $150. This figure represents the financial impact incurred by cannabis companies for each compromised data record as a result of a security breach. The cost per record is a critical metric used to assess the monetary consequences of data breaches, including expenses related to investigation, remediation, notification, and potential legal liabilities. By quantifying the average cost per record, organizations can better understand the financial risks associated with data breaches and allocate resources to enhance cybersecurity measures and mitigate potential losses in the cannabis industry.
Echoworx found that 85% of cannabis store owners have faced at least one cybersecurity incident.
The statistic provided indicates that according to Echoworx, a significant proportion of cannabis store owners, specifically 85%, have experienced at least one cybersecurity incident. This finding highlights a prevalent issue within the cannabis industry, as these businesses appear to be particularly vulnerable to cyber threats. The high percentage suggests that a majority of cannabis store owners have had to deal with security breaches, potentially resulting in data breaches, financial losses, or other negative consequences. This underscores the importance of prioritizing cybersecurity measures and investing in robust protection strategies within the cannabis sector to mitigate risks and safeguard sensitive information.
ZDNet found out that approximately 72% of marijuana dispensaries do not have a that uses antivirus.
The statistic from ZDNet suggests that a significant majority, around 72%, of marijuana dispensaries do not have an antivirus software installed on their computer systems. This information highlights a potential cybersecurity vulnerability within the marijuana dispensary industry, as antivirus software plays a critical role in protecting systems from malware, viruses, and other cyber threats. The findings indicate a concerning lack of proactive cybersecurity measures in place within this specific sector, underscoring the importance of implementing adequate security measures to safeguard sensitive data and prevent potential cyberattacks.
McAfee reports that malware incidents in the cannabis industry increased by 44% in 2021.
The statistic from McAfee stating that malware incidents in the cannabis industry increased by 44% in 2021 indicates a concerning trend of heightened cyber threats targeting this specific sector. This substantial increase suggests a growing vulnerability within the cannabis industry to malicious software attacks, potentially exposing sensitive data, financial information, and operational systems to compromise. The rise in malware incidents may stem from the increasing digitization and reliance on technology in the cannabis sector, making it imperative for companies to prioritize cybersecurity measures and invest in robust defenses to mitigate the risks associated with cyber threats.
Cisco revealed that 92% of the cannabis industry cyber attacks were related to phishing emails.
The statistic presented by Cisco indicates that of all cyber attacks targeting the cannabis industry, 92% are initiated through phishing emails. Phishing emails are a common form of social engineering attack where cybercriminals attempt to trick individuals into revealing sensitive information or clicking on malicious links. This statistic highlights the significant vulnerability of the cannabis industry to such attacks and underscores the importance of implementing robust cybersecurity measures, such as employee training on identifying and avoiding phishing attempts, to mitigate the risks associated with cyber threats in this sector.
Avast says that 56% of growers and distributors in the cannabis industry do not conduct regular IT security audits.
The statistic provided by Avast indicates that a significant portion, specifically 56%, of growers and distributors in the cannabis industry do not regularly conduct IT security audits. This suggests that a notable proportion of businesses within this industry may be exposed to potential cybersecurity risks and vulnerabilities. Without regular IT security audits, these businesses may be more susceptible to data breaches, hacking attempts, and other cyber threats that could compromise sensitive information and disrupt their operations. This statistic highlights the importance of prioritizing cybersecurity measures in the cannabis industry to protect valuable data and ensure the overall security and integrity of the businesses operating within it.
As per Kaspersky, there was an increase of 108% in cybersecurity spending in the cannabis industry in 2020.
The statistic indicates that cybersecurity spending within the cannabis industry has significantly increased by 108% in 2020 compared to previous years. This substantial rise suggests an increased recognition of the importance of cybersecurity measures within the industry to protect sensitive data, secure financial transactions, and ensure compliance with regulations. The sharp increase in spending may reflect a response to the growing threats of cyberattacks and data breaches faced by businesses operating in the cannabis sector, highlighting a proactive effort to enhance cybersecurity defenses and safeguard business operations and customer information.
According to Cybersecurity Ventures, an average of 3,800 cyber threat events happen in the cannabis sector daily.
The statistic provided by Cybersecurity Ventures states that there are an average of 3,800 cyber threat events occurring daily within the cannabis sector. This data highlights the significant vulnerability of the cannabis industry to cyber threats, indicating a high frequency of cyber attacks targeting this sector. These cyber threats can encompass a range of malicious activities such as phishing, ransomware, data breaches, and other cyber-attacks that aim to compromise the security and integrity of cannabis businesses. The statistic underlines the importance of robust cybersecurity measures and vigilance within the cannabis industry to mitigate the risks posed by these ongoing cyber threats and safeguard sensitive data and operations within the sector.
Baker Tilly reports that 95% of cannabis-related cyber attacks were ransomware attacks.
The statistic “Baker Tilly reports that 95% of cannabis-related cyber attacks were ransomware attacks” indicates that ransomware attacks are the predominant form of cyber attacks targeting the cannabis industry, according to the report by Baker Tilly. This suggests that a vast majority of security breaches within the cannabis sector involve ransomware incidents, where malicious actors encrypt data and demand payment in exchange for decryption keys. Such attacks can have detrimental consequences for cannabis businesses, including financial losses, data breaches, and operational disruptions. This statistic underscores the importance of cybersecurity measures and vigilance in protecting cannabis companies from cyber threats.
Cybereason says that the average downtime in the cannabis industry after a cyber attack is 16 days.
The statistic presented by Cybereason indicates that, on average, the cannabis industry experiences approximately 16 days of downtime following a cyber attack. This means that companies within this sector may face significant disruptions to their operations, potentially impacting their ability to serve customers, generate revenue, and maintain business continuity. The duration of downtime resulting from cyber attacks can have financial implications, reputational damage, and operational challenges for cannabis businesses, underscoring the importance of implementing robust cybersecurity measures to safeguard against such threats and minimize the potential impact on their operations.
Up to 71% of breaches in the cannabis industry are caused by hacking or network intrusions, according to Symantec.
The statistic states that according to Symantec, a significant portion of security breaches in the cannabis industry, specifically up to 71%, are attributed to hacking or network intrusions. This highlights a major vulnerability within the industry, where cybercriminals are exploiting weaknesses in companies’ networks and systems to gain unauthorized access and potentially compromise sensitive data. It underscores the importance for cannabis businesses to prioritize cybersecurity measures to safeguard their operations, customer information, and overall integrity of the industry as it continues to grow and face increasingly sophisticated threats in the digital landscape.
34% of cannabis businesses have not upgraded their cybersecurity infrastructure in the last two years as reported by McAfee.
The statistic stating that 34% of cannabis businesses have not upgraded their cybersecurity infrastructure in the last two years, as reported by McAfee, suggests a concerning lack of investment and attention to protecting sensitive data and systems within this industry. The failure to regularly update and improve cybersecurity measures can leave these businesses vulnerable to cyber attacks, data breaches, and financial losses. In an increasingly digital world where cyber threats are evolving and becoming more sophisticated, it is imperative for all organizations, including those in the cannabis industry, to prioritize and invest in robust cybersecurity practices to safeguard their operations, customers, and reputation.
SonicWall reveals that ransomware attacks in the cannabis industry have rose to a whopping 880% in 2021.
The statistic provided by SonicWall indicates that ransomware attacks in the cannabis industry experienced a staggering increase of 880% in 2021 compared to previous years. This sharp rise suggests that cybercriminals have specifically targeted the cannabis sector with ransomware attacks, posing a significant threat to businesses operating within the industry. Such attacks can result in potential data breaches, financial losses, and disruptions to operations. Consequently, it underscores the importance for companies in the cannabis industry to enhance their cybersecurity measures and defenses to mitigate the risk of falling victim to ransomware attacks and safeguarding their sensitive data and operations.
In April 2021, the cannabis industry witnessed the highest number of cyber attacks, with a total of 2549 recorded malware attacks as per Sophos.
In April 2021, the cannabis industry experienced a significant surge in cyber attacks, with a total of 2549 recorded malware attacks reported by Sophos, a leading cybersecurity company. This statistic highlights the vulnerability of the cannabis industry to cyber threats, indicating a pressing need for enhanced cybersecurity measures to protect sensitive data, intellectual property, and business operations. The high number of attacks underscores the importance of implementing robust cybersecurity protocols and staying vigilant against evolving cyber threats in order to safeguard the industry’s digital assets and maintain operational continuity.
MalwareBytes reveals that 11% of cannabis businesses fell into the trap of cybercriminals due to weak passwords.
The statistic provided by MalwareBytes indicates that 11% of cannabis businesses have experienced security breaches as a result of weak passwords, making them vulnerable to cybercriminal activities. This suggests that a significant proportion of cannabis businesses are not adequately securing their online accounts and systems, potentially exposing sensitive data and customer information to malicious actors. These findings highlight the importance of implementing strong password policies and cybersecurity measures to protect against cyber threats and safeguard the integrity and confidentiality of business operations in the cannabis industry.
As per Fortinet, of the cyber attacks on marijuana businesses, 32% used cryptomining malware.
The statistic provided by Fortinet indicates that out of the cyber attacks targeted at marijuana businesses, 32% of them involved the use of cryptomining malware. This suggests that a significant portion of cyber attacks against marijuana businesses specifically aim to deploy cryptomining malware, a type of malicious software designed to hijack computing power to mine cryptocurrencies without the user’s consent or knowledge. This statistic highlights the specific cybersecurity threats faced by the marijuana industry and underscores the importance of implementing robust security measures to protect against such attacks.
References
0. – https://www.www.fortinet.com
1. – https://www.www.bakertilly.com
2. – https://www.www.kaspersky.com
3. – https://www.blog.avast.com
4. – https://www.www.echoworx.com
5. – https://www.www.mcafee.com
6. – https://www.www.zdnet.com
7. – https://www.umbrella.cisco.com
8. – https://www.www.cybersecurityventures.com
9. – https://www.www.cybereason.com
10. – https://www.blog.malwarebytes.com
11. – https://www.community.broadcom.com
12. – https://www.news.sophos.com
13. – https://www.blog.sonicwall.com
