How Much Money Cybercrime Costs Businesses Each Week

They’re still trying to clean up the mess in Florida from hurricane Ian and there are a lot of tragic stories of businesses that were wiped out and people who lost their homes. A lot of people didn’t have flood insurance or they had no coverage. Certainly, FEMA will kick in on some but no matter where you live in the country even if you don’t live in Florida or anywhere near Florida, be aware that you might have a risk equal to or greater than hurricane Ian to your business every single day. And what do we mean by that? Look, we’re not trying to take anything away from the damage from hurricane Ian but part of what a lot of people in Florida wish that they had was more coverage maybe more prevention more protection. A lot of people that rode out the storm said I wish I left, or I wish I had better coverage. 

So here’s what we’re talking about. Hurricane Ian is suspected of being about a $50-60 billion loss for that storm. Right. So that’s a big number from one storm. However, cybercrime and cyber losses cost $6 trillion in 2021. So that’s about a cybercrime like every two weeks size of hurricane Ian. Right $6 trillion is like 120 times hurricane Ian in terms of dollars. Well, if you had a cybercrime twice a week, you’d have to hurricane Ians every single week for cybercrime for your business. This is spread out everywhere. It’s not localized in one area. Cybercrime could be affecting your business tomorrow. It could affect it next month. It could affect it in two months. So be aware that when you look at the damage and devastation from a natural disaster like hurricane Ian, God bless those people wishing the best of success for their recovery, that there may not be a hurricane bearing down on your city, and there may not be a tornado bearing down on your city, but they’re cyber crime bearing down on your business every single day. So having great prevention and maybe good coverage would be a way to protect yourself from a disaster no less risky than a hurricane like Ian, but a lot more invisible and it comes without warning.

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