The global cost of cyberattacks soared to an estimated $9.5 trillion in 2024, underscoring an alarming rise in digital threats facing businesses, governments and critical infrastructure, according to a new report by cybersecurity firm BD Emerson.
IBM’s annual Cost of Data Breaches report revealed that the average data breach cost surged to $4.88 million last year, a 10% increase, driven by escalating operational disruptions and the high price of post-breach remediation.
Ransomware attacks continue to be the fastest-growing cyber threat, with industry analysts projecting annual losses could reach $265 billion by 2031. These attacks increasingly target major enterprises, public institutions and essential services.
Meanwhile, artificial intelligence is playing a growing and dangerous role in cybercrime. According to a report by cybersecurity training firm SoSafe, 87% of global companies reported experiencing AI-driven cyberattacks in the past year.
These sophisticated assaults often leverage AI-enhanced social engineering and multi-channel phishing tactics to bypass traditional defenses.
Comments