Anew studyfound New York cyberattack victims lost the No. 4 most money in America in 2020 with an average loss of $12,051 per person.
In the past 10 years, money lost to cyberattacks in the U.S. alarmingly surged 765% from $485 million in 2011 to a record $4.2 billion last year.
This has impacted the U.S. government, business owners, and individuals.
New York business owners have been particularly targeted losing an average of $206,418 to business email compromise (BEC) -- the costliest type of cyberattack. BEC targets business emails, poses as a company’s real vendor, and gives new bank information to procure unrecoverable fraudulent wire transfers.
Additional Key Findings:
- 5 Most Financially Damaging Type of Cyberattacks Nationally:BEC ($96,373 per incident), corporate data breach ($46,373), investment ($38,287), civil matter ($25,740), and romance scams/confidence fraud ($25,273).
- Phishing the No. 1 Method:Phishing, clicking on links emailed or texted by fraudsters, has grown by 1,110% in the last five years and is the top method used with 241,342 victims last year, followed by non-payment/non-delivery, extortion, data breach and identity theft.
- 5 States Where Victims Lost the Most:North Dakota ($33,954), Missouri ($14,205), Ohio ($12,680), New York ($12,051) and Utah ($9,564).
Tips to Avoid Cyberattacks:
- Never respond to unsolicited communications via email, text, or phone.
- Don’t click on links, give personal information, or send money unless you know them.
- Use a password manager to diversity your passwords.
- Limit the amount of personal information you post on social media.