CyberNews Briefs

Cyber Attacks Cost $45 Billion in 2018

Internet Society’s Online Trust Alliance (OTA) has released an extensive report on cybersecurity breach trends. According to the research, around two million cyber attacks occured last year, resulting in global damages of over $45 billion.

The report also indicates that financial losses from ransomware rose by 60%, while the total costs due to business email compromise (BEC) scams doubled and those resulting from cryptojacking attacks tripled. Cryptojacking refers to the illegitimate use of a system’s resourcing powers for mining cryptocurrencies.

Given these findings, it is rather striking that the number of breaches actually declined last year, as did the number of exposed records.

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OODA Analyst

OODA Analyst

OODA is comprised of a unique team of international experts capable of providing advanced intelligence and analysis, strategy and planning support, risk and threat management, training, decision support, crisis response, and security services to global corporations and governments.