The US cyber attack threats are growing exponentially. In the White House last week, President Biden and members of his cabinet met with executives from big tech, the financial industry and infrastructure companies to discuss the threats posed to the economy by these attacks.
“We have a lot to do,” Biden said, citing ransomware attacks and nearly half a million cybersecurity jobs, both in the public and private sectors.
The amount of money lost to cyberattacks in the US increased 765% from $ 485 million in 2011 to a record $ 4.2 billion last year. A new study found that cybercrime complaints to the FBI rose from about 263,000 in 2013 to nearly 800,000 in 2020. CCTV Camera World’s study analyzed the FBI Internet Crime Compliant Center’s data from 2011 to 2021. Phishing is the main method used by cyber criminals – they send links via email or SMS to people who, when clicked, can open the unsuspecting recipient to extortion, data breach, and identity theft.
Rank in New Jersey 19th among states with the highest number of monetary losses from victims of cyberattacks in 2020, with an average loss of $ 6,658 per person, according to the study. The five states where the victims lost the most were North Dakota ($ 33,954), Missouri ($ 14,205), Ohio ($ 12,680), New York ($ 12,051), and Utah ($ 9,564).
The study found that New Jersey business owners lost an average of $ 88,138 to what is known as the Business Email Compromise (BEC). This type of cyberattack perpetrators use email to identify themselves as the real seller of the company and extract banking information that enables fraudulent transfers.