U.S. companies and cyber crime - statistics & facts

What are the most common forms of cybercrime in the United States?

Thanks to ever-evolving technology features and the rapid uptick in online usage across industries, today’s cybercrime landscape is more diverse than ever. In 2019, the most common cyber attacks experienced by companies in the United States were phishing attacks. IT security experts estimate that around 65 percent of U.S. organizations fell victim to successful phishing activities via email, social media, or phone that year.

Data breaches in the United States

Over the last two decades, the number of data breaches in the United States has increased almost tenfold, as the reliance on digital data has grown among most corporations. In 2019, around 1,506 breaches were reported, marking the second-highest incident rate so far. As of 2020, the biggest online data breach worldwide remains the 2018 security breach of sales intelligence company Apollo, which saw more than nine billion data points compromised. But apart from lost data records, businesses also face legal consequences and financial damage in the wake of a cyber attack. In 2019, for example, the Atlanta-based credit agency Equifax agreed to pay a settlement of 575 million U.S. dollars following a data breach. Today, the average cost per data breach in the United States amounts to almost nine million U.S. dollars.

Cybersecurity measures among U.S. companies

There are several policies and processes that companies can implement to prevent cyber attacks and ensure digital safety. In North America, usernames and passwords remain the most commonly employed authentication methods among small businesses. But while this form of authentication serves as a first entry barrier for unauthorized parties, it does not sufficiently protect businesses from intrusions. According to a recent survey, more than 60 percent of organizations in the United States currently employ two-factor authentication to verify user identities, while the switch to passwordless approaches and artificial intelligence (AI) for cybersecurity is also visibly accelerating. Seeing that many U.S. companies had to implement remote working systems amidst the coronavirus (COVID-19) pandemic, they will need to close protection gaps and focus on cybersecurity now more than ever.

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