Posted on 05 May 2016
Today is not only Cinco de Mayo, it’s also World Password Day. Yes, it’s a real thing. And unfortunately, so is cybercrime.
Today is the day to update your passwords for all of your logins. In our modern world of cybercrime with encrypted emails, internet hacking and identity theft, we think that it’s a good idea. Here are some statistics that seem quite unsettling:
1. There are 1.5 million cyber-attacks every year. That’s over 4,000 cyber-attacks every day, 170 attacks every hour, or nearly three attacks every minute. (CBS, March 3, 2015).
2. Approximately 15 million United States residents have their identities used fraudulently each year with financial losses totaling upwards of $50 billion. (Rob Douglas, Identity Theft and Scam Prevention Services).
3. Companies in the U.S. lose more than $525 million annually due to cybercrime. (Statista, Statistics and Market Data on Cyber Crime).
This chart gives the global impact of consumer cybercrime in 2013. Growing astronomically, the CBS news source estimated cybercrime to be over $400 billion for 2014. And researchers are estimating a staggering $2 Trillion lost by 2019.
It’s a HUGE problem that’s not going away.
Yet we can’t revert back to the dark ages. Technology is our future and we must harness its power, but we need to be wise. Start by updating your password for your account on our online timekeeping system. Once you’re finished and your workday is done, go relax. After all, it is Cinco de Mayo!