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Billions of data records compromised in 2020

(Image credit: Shutterstock / Golden Sikorka)

We already knew that 2020 was a big year for cybercriminals, but a new report from analyst firm Canalys has revealed the extent of the damage.

According to the report, more than 30 billion records were compromised in 2020, which is more than in the previous 15 years combined.

Multiple factors contributed to the success of cybercriminals, including the rushed transition to remote working and the ease with which advanced hacking tools can now be obtained. 

Canalys says organizations tried to protect themselves as best they could, increasing investment in cybersecurity solutions by 10% year-on-year, to $53 billion in total. However, as Covid-19 forced the world into lockdown and employees into a remote-working environment, security took a backseat to business continuity and productivity.

Investment in cloud infrastructure services grew by a third (33 percent) last year, reaching $142 billion, while investment in cloud software services rose by more than a fifth (20 percent) in the same timeframe.

“Prioritize cybersecurity and invest in broadening protection, detection and response measures or face disaster,” warned Matthew Ball,  Chief Analyst at Canalys. “According to the latest analysis from Canalys this is the stark reality facing organizations in 2021. For many, it is too late.”