Cybercrime Costs Businesses $1.1M Every Minute

Cyber crime and ransomware are a growing expense for companies as more business is conducted electronically. RiskIQ released an infographic showing some alarming statistics. Foremost is that the overall cost of cyber crimes tops $600 billion dollars, which is $1.1 million each minute. The victims top 2.7 million each day. One of the most challenging crimes is ransomware, where a hacker or computer virus locks a user out of the computer until money is paid. This affects more than one organization per minute, equating to $8 billion each year.