More Than $1.1M Lost to Cybercrime Every Minute

Globally, $1,138,888 is lost to cybercrime every minute, a new report reveals.

That total represents a $282,724 increase since last year, cybersecurity firm RiskIQ revealed in its Evil Internet Minute 2.0 report, which draws on the company's global threat intelligence data, as well as third-party research, to examine the volume of malicious Web activity.

"As the internet and its community continue to grow at a rapid pace, the threat landscape targeting it grows at scale as well," RiskIQ CEO Elias Manousos said in a statement. "We made the vast numbers associated with it more accessible by framing them in the context of an 'internet minute.' We're defining the sheer scale of attacks that take place across the internet to help businesses better understand what they're up against on the open web."

Think you're immune to cyberattacks? Think again. Every 60 seconds, 1,861 people are impacted by cybercrimes such as malware and phishing attacks, the research reveals. And it's no wonder so many people are falling victim: Every minute, attackers collectively deploy 1,274 unique pieces of malware, 22.9 phishing emails, more than nine malicious advertisements, and .21 new phishing domains.

Businesses collectively spend $171,233 every minute on information security, RiskIQ found. Even so, every 60 seconds, 1.5 organizations are impacted by ransomware attacks. These attacks collectively cost businesses $15,221 per minute, on average.

The impact of data breaches is also staggering. Every day, 2.9 billion records are leaked in publicly disclosed breaches. That breaks down to 5,518 records exposed every minute.