Cyber Risk Modeling

May, 2023

Over the past few years, there has been an increase in global cyberattacks, with reports indicating that overall attacks were up 38% in 2022 from years previous. In the USA alone there was a 57% increase, while the UK experienced a 77% increase in cyberattacks. Many of these attacks result in data breaches and ransomware attacks, which cost organizations time and money, as well as long term negative effects such as loss of reputation.

On top of this, the average cost of a data breach has reached a record high of $4.35 million. The cost of a ransomware attack is $4.54 million, on average, not including the cost of a ransom payment. With cyberattacks on the rise, organizations need better intelligence to enable them to model risk and take mitigating actions, particularly small businesses which are three times more likely to be a target of a cyberattack.

Darknet data is a key source of insight into criminal and other nefarious activity. The darknet—or dark web as it is also referred to—is a layer of the internet that cannot be accessed by traditional browsers. Sensitive corporate information is regularly leaked or sold on the darknet. These sets of darknet data can be used to identify cybersecurity threats and calculate organizational risk. Understanding risk enables an organization to better be prepared for potential threats.