Are you looking to add Risk-Based Authentication to your arsenal of tools? Maybe for your business or personal use only, whatever it is – it’s always a good idea to know more about the most important Risk-Based Authentication statistics of 2024.
My team and I scanned the entire web and collected all the most useful Risk-Based Authentication stats on this page. You don’t need to check any other resource on the web for any Risk-Based Authentication statistics. All are here only 🙂
How much of an impact will Risk-Based Authentication have on your day-to-day? or the day-to-day of your business? Should you invest in Risk-Based Authentication? We will answer all your Risk-Based Authentication related questions here.
Please read the page carefully and don’t miss any word. 🙂
On this page, you’ll learn about the following:
Best Risk-Based Authentication Statistics
☰ Use “CTRL+F” to quickly find statistics. There are total 62 Risk-Based Authentication Statistics on this page 🙂Risk-Based Authentication Market Statistics
- However, the industry is growing rapidly at a CAGR of 18.8%, which provides further room for the growth of players operating in the market. [0]
Risk-Based Authentication Latest Statistics
- More emerging companies like these will get big funding rounds in 2018, but many existing companies will likely just add the functionality to long. [1]
- Asia Pacific Largest Market North America CAGR 18.8 % Market Overview. [0]
- It is expected to reach USD 9.41 billion by 2026, registering a CAGR of 18.8% during 2021. [0]
- According to the Federal Trade Commission, in March 2021, more than 217,000 Americans had filed a coronavirusrelated fraud report since January 2020, with losses to Covid linked fraud totaling USD 382 million. [0]
- Similarly, the Consumer Financial Bureau fielded 542,300 fraud complaints in 2020, a significant 54% increase compared to 2019. [0]
- Furthermore, according to the Association of Certified Fraud Examiners or ACFE, due to the pandemic, the cyber fraud risk significantly increased from 45% in May 2020 to 47% in August 2020. [0]
- In addition, it is expected that an increase in cyber fraud risk is expected to reach 60% over the next 12 months. [0]
- According to a Flexera 2021 State of the Cloud Report, based on a survey of 750 IT professionals, 92% of the respondents have a multi cloud strategy, while 82% have a hybrid cloud strategy. [0]
- About 36% of enterprises reported that their annual spend exceeded USD 12 million, and 83% said that cloud spend exceeds USD 1.2 million per year. [0]
- According to a study by Lightico, in March 2020, around 82% of customers were concerned about visiting their branch in person, and 63% mentioned that they are willing to try the digital application. [0]
- According to Identity Theft Resource Center, the number of data breaches in the United States increased from 784 in 2015 to 1,001 in 2020. [0]
- For instance, according to the White House Council of Economic Advisers, the US economy faces losses of approximately USD 57 billion to USD 109 billion per annum, due to cyber. [0]
- According to a statistic presented by Experian PLC, 31% of the data breach victims claimed the theft of their identity, like e mail ids, passwords, credit/debit card numbers, etc. [0]
- When compared to 2019, the number of publicly reported breach events decreased by 48%, however, several records exposed exceeded 37 billion. [0]
- The Risk based Authentication Market is growing at a CAGR of 18.8% over the next 5 years. [0]
- Through the use of risk based authentication, the plan with 3D Secure 2.0 is for this to happen in only a small percentage of the transactions. [2]
- This update also provides all the necessary tools to ensure PSD2 compliance for card payments – a major benefit which should not be underestimated.”. [2]
- Industry benchmark based on a number of studies states that the average cart abandonment rate is 69.80%. [3]
- Considering that up to 73 percent of passwords are duplicates, this has been a successful strategy for many attackers and it’s easy to do. [4]
- By providing an extra barrier and layer of security that makes it incredibly difficult for attackers to get past, MFA can block over 99.9 percent of account compromise attacks. [4]
- The average per record cost of a data breach increased by 10.3 percent from 2020 to 2021. [5]
- The average total cost for healthcare increased from $7.13 million in 2020 to $9.23 million in 2021, a 29.5 percent increase. [5]
- 39 percent of costs are incurred more than a year after a data breach. [5]
- Annually, hospitals spend 64 percent more on advertising the two years following a breach. [5]
- 34 percent of data breaches in 2018 involved internal actors. [5]
- 71 percent of breaches are financially motivated. [5]
- Ransomware accounts for nearly 24 percent of incidents in which malware is used. [5]
- 95 percent of breached records came from the government, retail and technology sectors in 2016. [5]
- 36 percent of external data breach actors in 2019 were involved in organized crime. [5]
- Microsoft Office files accounted for 48 percent of malicious email attachments. [5]
- The global number of web attacks blocked per day increased by 56.1 percent between 2017 and 2018. [5]
- There was an 80 percent increase in the number of people affected by health data breaches from 2017 to 2019. [5]
- Organizations with more than 60 percent of employees working remotely had a higher average data breach cost than those without remote workers. [5]
- Estimates show there were as many as 192,000 coronavirus related cyberattacks per week in May 2020 alone, a 30 percent increase compared to April 2020. [5]
- In 2021, 98 percent of pointof sale data breaches in the hospitality industry were financially motivated. [5]
- Confirmed data breaches in the healthcare industry increased by 58 percent this year. [5]
- Web application breaches account for 43 percent of all breaches and have doubled since 2019. [5]
- Cyber scams increased by 400 percent in the month of March 2020, making COVID19 the largest ever security threat. [5]
- The average distributed denial of service attack grew to more than 26 Gbps, increasing in size by 500 percent. [5]
- In the first quarter of 2020, DDoS attacks rose more than 278 percent compared to Q1 2019, and more than 542 percent compared to the last quarter. [5]
- More than 64 percent of financial service companies have 1,000 plus sensitive files accessible to every employee in 2021. [5]
- On average in 2021, 70 percent of all sensitive data was considered stale. [5]
- 58 percent of companies found more than 1,000 folders that had inconsistent permissions. [5]
- 59 percent of financial services companies have more than 500 passwords that never expire, and nearly 40 percent have more than 10,000 ghost users. [5]
- Small businesses account for 28 percent of data breach victims. [5]
- More than 80 percent of breaches within hacking involve brute force or the use of lost or stolen credentials. [5]
- Human error causes 23 percent of data breaches. [5]
- 62 percent of breaches not involving an error, misuse or physical action involved the use of stolen credentials, brute force or phishing. [5]
- By 2025, cybercrime is estimated to cost $10.5 trillion globally, increasing by 15 percent year over year. [5]
- As of 2015, 25 percent of global data required security but was not protected. [5]
- Social media data breaches accounted for 56 percent of data breaches in the first half of 2018. [5]
- 63 percent of companies have implemented a biometric system or plan to implement one. [5]
- 17 percent of IT security professionals reported information security as the largest budget increase for 2018. [5]
- 80 percent of organizations intended to increase security spending for 2018. [5]
- It was predicted that global cybersecurity spending would exceed $1 trillion cumulatively between 2017 to 2021. [5]
- Worldwide, IT security spending in 2019 was projected to grow 8.7 percent compared to 2018. [5]
- For the first time since 2013, ransomware declined 20 percent overall but was up by 12 percent for enterprise companies. [5]
- Budget allocation to hardware based security services, which generally lack both portability and the ability to effectively function in virtual infrastructure, has fallen from 20 percent in 2015 to 17 percent. [5]
- MSSPs, which can replicate certain security operational functions, saw modest budget allocation growth at the end of 2017 to 14.7 percent, but security professionals expected that stake would grow to 17.3 percent by 2021. [5]
- According to the Office of Inadequate Security, in 1984 the global credit information corporation known as TRW was hacked and 90 million records were stolen. [5]
- The Privacy Rights Clearinghouse estimated that there have been 9,044 public breaches since 2005, however more can be presumed since the organization does not report on breaches where the number of compromised records is unknown. [5]
I know you want to use Risk-Based Authentication Software, thus we made this list of best Risk-Based Authentication Software. We also wrote about how to learn Risk-Based Authentication Software and how to install Risk-Based Authentication Software. Recently we wrote how to uninstall Risk-Based Authentication Software for newbie users. Don’t forgot to check latest Risk-Based Authentication statistics of 2024.
Reference
- mordorintelligence – https://www.mordorintelligence.com/industry-reports/risk-based-authentication-market.
- g2 – https://learn.g2.com/trends/risk-based-authentication.
- 3dsecure2 – https://3dsecure2.com/frictionless-flow/.
- asee – https://cybersecurity.asee.co/blog/online-payments-and-fraud-prevention/how-to-reduce-cart-abandonment-rate/.
- microsoft – https://www.microsoft.com/security/blog/2019/08/20/one-simple-action-you-can-take-to-prevent-99-9-percent-of-account-attacks/.
- varonis – https://www.varonis.com/blog/data-breach-statistics.
How Useful is Risk Based Authentication
One of the key benefits of risk-based authentication is its ability to adapt to different scenarios and assess the potential risk level associated with each login attempt. Traditional methods of authentication, such as passwords or security questions, can be easily compromised or guessed by malicious actors. However, by taking into account various contextual factors, risk-based authentication can help organizations distinguish between legitimate users and potential threats.
Another important aspect of risk-based authentication is its flexibility and scalability. Organizations can tailor the risk assessment process to meet their specific security requirements and adapt it as needed to address new threats and challenges. For example, they can adjust the risk thresholds, add additional authentication factors, or integrate new data sources to strengthen their security measures.
Moreover, risk-based authentication can help organizations strike a balance between security and user experience. By using risk-based algorithms, organizations can apply additional security measures only when necessary, based on the perceived risk level of each login attempt. This can help minimize friction for legitimate users while providing enhanced protection against potential threats.
However, it is important to recognize that risk-based authentication is not a one-size-fits-all solution. While it can provide an effective mechanism for enhancing security, it is not foolproof and should be used in conjunction with other security measures. Organizations should adopt a layered approach to security, combining risk-based authentication with strong passwords, multi-factor authentication, encryption, and other security controls to create a robust defense against cyber threats.
Additionally, organizations should be mindful of the potential limitations of risk-based authentication. For example, the accuracy of risk assessment may be influenced by various factors such as insufficient data, false positives, or changing user behavior patterns. Organizations should regularly review and update their risk models to ensure their effectiveness and adaptability to evolving threats.
In conclusion, risk-based authentication is a valuable tool that organizations can leverage to enhance their security posture and protect their assets. By analyzing contextual factors and assessing the potential risk level associated with each login attempt, organizations can better identify and mitigate potential threats. However, it is important to use risk-based authentication in conjunction with other security measures and regularly review and update risk models to ensure their effectiveness and relevance in today’s constantly evolving threat landscape.
In Conclusion
Be it Risk-Based Authentication benefits statistics, Risk-Based Authentication usage statistics, Risk-Based Authentication productivity statistics, Risk-Based Authentication adoption statistics, Risk-Based Authentication roi statistics, Risk-Based Authentication market statistics, statistics on use of Risk-Based Authentication, Risk-Based Authentication analytics statistics, statistics of companies that use Risk-Based Authentication, statistics small businesses using Risk-Based Authentication, top Risk-Based Authentication systems usa statistics, Risk-Based Authentication software market statistics, statistics dissatisfied with Risk-Based Authentication, statistics of businesses using Risk-Based Authentication, Risk-Based Authentication key statistics, Risk-Based Authentication systems statistics, nonprofit Risk-Based Authentication statistics, Risk-Based Authentication failure statistics, top Risk-Based Authentication statistics, best Risk-Based Authentication statistics, Risk-Based Authentication statistics small business, Risk-Based Authentication statistics 2024, Risk-Based Authentication statistics 2021, Risk-Based Authentication statistics 2024 you will find all from this page. 🙂
We tried our best to provide all the Risk-Based Authentication statistics on this page. Please comment below and share your opinion if we missed any Risk-Based Authentication statistics.