This Is How Much Money Americans Lost Due To Hackers During The Pandemic

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financial impact of hacking 2021

During the pandemic, people relied on the internet more than ever.

The need to remain in constant contact with coworkers, family members, healthcare providers, shop online, order food, and the ability to earn a passive income was vital for many Americans.

With people relying so much on the internet every day, it only makes sense that now more than ever, more Americans are vulnerable to hacking and cyberattacks.

An astounding 93% of U.S. adults reporting internet use in the last year. In 2020, over 37 billion records were compromised and ransomware attacks were up 800%.

“Cybercriminals capitalizing on the increased need for information during a global health crisis used Covid-19 lures to breach privacy controls and even went so far as to attack key industries, like aid organizations and government institutions, working towards solutions for the pandemic,” according to GetResponse, an email and marketing data company.

GetResponse crunched the numbers to see just how much money people lost to cyberattacks and hacking in 2020, along with which states experienced the most attacks and most money lost.

“In the wreckage of Covid-19 was born a hacker’s paradise.

But where in the U.S. are these attacks concentrated, and how many people in each state have been affected?

To find out, GetResponse turned to FBI hacking data.

During a year loaded with anxiety, unemployment, and severance from loved ones, Americans looked to the Internet as a lifeline to the wider world. But cyberattacks in 2020 were as widespread and far-reaching as the effects of Covid-19—no state was safe.

Nevada, with 523 victims per 100K residents, saw significantly more hacking reports than any other state. Hacking reports were also prevalent in the country’s capital, Washington, D.C., with 302 victims per 100K residents—potentially risking national efforts for Covid-19 recovery.

Reported attacks in Iowa followed closely, with 297 victims per 100K residents.”

The Financial Impact of Hacking In 2020

According to GetResponse, FBI data revealed some differences between states with high numbers of victims per capita and those with high dollar losses per capita.

“North Dakotans, with 100 victims per 100K residents, lost almost $3.5 million to hacking, and New Yorkers, with 177 victims per capita, lost just over $2 million—both ranked relatively low for victim rates.

Conversely, D.C. residents experienced higher rates of hacking and lost almost $2.7 billion to cyberattacks in 2020. But South Dakotans, with lower rates of per capita victims, also lost significantly less than most other states, with $362,653 lost to cyberattacks.”

Here are the states that lost the most money (per 100K people) to hackers in 2020:

1. North Dakota – $3.38M
2. Washington, D.C. – $2.68M
3. New York – $2.13M
4. Missouri – $1.8M
5. Colorado – $1.74M
6. California – $1.57M
7. Massachusetts – $1.45M
8. Nevada – $1.44M
9. Utah – $1.46M
10. Ohio – $1.45M

Analysts estimate that close to $1 trillion was lost globally to hackers and cyberattacks in 2020.

Here’s a breakdown of the states with the most cybersecurity issues.

via GetResponse

 

“If there’s one conclusion we can draw from this data,” explains GetResponse, “it’s that online safety is more important than ever.”

Head over to their website for the full report.

Author
Chris Illuminati

Chris Illuminati is the author of five books and has written about personal finance, wealth, debt management, and entrepreneurship for numerous outlets including Wise Bread, Grow or Die, and Bankrate.

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