This week’s OSIN report highlights the Global Cybercrime statistics 2023 which provides an overview of the current state of cybercrime and its impact on businesses worldwide. The report highlights that cybercrime has become more sophisticated and widespread, with the pandemic exacerbating the situation.

Cybercriminals are using advanced techniques to breach cybersecurity defences, such as social engineering and phishing attacks. The report also notes that businesses of all sizes are vulnerable to cyber-attacks, with the financial sector being the most targeted.

The total number of data compromises has been on the rise, increasing from 785 million in 2015 to 1.802 billion in 2022. The ecommerce industry suffered a USD 41.4 billion loss due to fraud in 2022, but only 34% of companies are investing in fraud prevention and mitigation measures.

Furthermore, the report discusses the importance of cybersecurity for businesses and provides recommendations on how companies can protect themselves from cyber-attacks. The recommendations include implementing multi-factor authentication, conducting regular security assessments, and educating employees on cybersecurity best practices.