Many predicted that 2017 would be the year of ransomware and that was indeed true. This past year the ransomware industry evolved, and the marketplace for ransomware software has grown by 2,502%. Ransomware sales on the dark web have increased from less than $400,000 in 2016 to approximately $6.25 million in 2017.
But, this year has shown us much more than just the prevalence of ransomware, it has shown us the increasing need for cybersecurity insurance, true and effective data access governance programs, and the need for organizations to invest in security personnel.
CSO compiled a list of the most significant breaches of the 21st century. This list reports how much risk or damage the breach caused for companies, insurers, users, or account holders.
Data breach settlements in 2017 totaled nearly $170M. These represent settlements reached in 2017 for breaches that date back as far as 2013. The settlements were for late breach notification, HIPAA failure, damages, Federal Trade Commission, legal and state fees, and more. The reasons for the breaches included malware, insider threats, hacktivists, and cybercriminals.
In an effort to move into 2018 with more knowledge around the cybersecurity landscape, we have compiled statistics like the ones above from numerous reports to showcase the 2017 landscape and help forecast what 2018 will hold in our latest report, 2017 Cybersecurity Recap and 2018 Predictions. By researching data breaches, data loss, and the repercussions for organizations in 2017 and leveraging industry reports to compile key findings we formed a solid baseline for our 2018 predictions that are included in the final report.
Click here to access the full report: https://storage.pardot.com/71852/189521/2017_Year_in_Review___2018_Predictions.pdf
Kelly Costlow is a Senior Marketing Manager for STEATHbits. Kelly began her career working on sales software and cloud applications and then moved into CX and service software. Now at STEALTHbits, she manages marketing automation and digital campaign strategy. In her free time, Kelly enjoys cooking, traveling and exploring the East Coast with her two dogs.
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