Risk-Based Authentication Statistics


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Steve Goldstein
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Risk-Based Authentication Statistics 2023: Facts about Risk-Based Authentication outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Risk-Based Authentication, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Risk-Based Authentication Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Risk-Based Authentication Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 31 Risk-Based Authentication Statistics on this page 🙂

Risk-Based Authentication “Latest” Statistics

  • Intellicheck reported a 282% increase in account takeovers only between 2019 and 2020.[1]
  • 80% of fraudsters, according to internal studies, utilize disposable emails and phone numbers that are unrelated to any other services.[1]
  • According to research by Kaspersky, efforts to log into someone’s account without authorization make up 54% of all fraudulent online assaults in the financial sector, as you can see in the pie chart below along with other data.[1]
  • The use of stolen credentials, brute force, or phishing was engaged in 62% of breaches that did not include a mistake, abuse, or physical action.[2]
  • A Flexera 2021 State of the Cloud report based on a poll of 750 IT professionals found that 92% of respondents had a multi-cloud approach and 82% had a hybrid cloud strategy.[2]
  • According to a figure provided by Experian PLC, 31% of victims of data breaches said that their identity had been stolen, including their email addresses, passwords, credit card details, etc.[2]
  • Since January 2020, more than 217,000 Americans have reported fraud connected to the coronavirus to the Federal Trade Commission, with damages from COVID-related fraud exceeding $382 million as of March 2021.[2]
  • The worldwide credit information business, TRW, was hacked in 1984, and 90 million data were taken, claims the Office of Inadequate Security.[2]
  • Two years after a breach, hospitals spend 64% more on advertising annually.[2]
  • Budget allocation for hardware-based security services has decreased from 20% in 2015 to 17%. These services often lack portability and the capacity to operate efficiently in virtual infrastructure.[2]
  • Cybercrime is predicted to cost the world $10.5 trillion by 2025, growing by 15% annually.[2]
  • MFA can prevent over 99.9% of account compromise attempts by adding an additional security layer and barrier that is very difficult for attackers to breach.[2]
  • Healthcare data breaches were confirmed to have grown this year by 58%.[2]
  • Given that up to 73% of passwords are duplicates, several attackers have found success with this tactic, and it’s simple to implement.[2]
  • The White House Council of Economic Advisers estimates that cyberattacks cost the U.S. economy between $57 billion and $109 billion annually.[2]
  • Ransomware decreased by 20% overall for the first time since 2013, but up 12% for corporate firms.[2]
  • By 2026, Risk-Based Authentication is anticipated to reach $9.41 billion with a CAGR of 18.8% over the previous decade.[2]
  • It was anticipated that between 2017 and 2021, worldwide cybersecurity investment will surpass $1 trillion.[2]
  • More than 80% of hacker breaches employ brute force or credentials that have been lost or stolen.[2]
  • The average cost of a data breach was greater for companies with more remote workers—more than 60% —than for companies without such workers.[2]
  • The magnitude of the typical distributed denial of service assault increased by 50% to more than 26 Gbps.[2]
  • The average annual expenditure of healthcare grew by 29.5%, from 713 million in 2020 to 923 million in 2021. 5 more than a year after a data breach, 39% of expenditures are incurred5.[2]
  • Between 2017 and 2018, the number of web assaults that were stopped on a daily basis throughout the world climbed by 56.1%.[2]
  • From 2017 to 2019, there was an 80% rise in the number of individuals impacted by health data breaches.[2]
  • Marketsandmarkets anticipates a compound annual growth rate of 19.8% for the worldwide risk-based authentication market size, rising from $2.19 billion in 2018 to $5.41 billion by 2023.[3]
  • 83% of businesses said that their annual cloud spending surpasses $12 million, while 36% of businesses claimed that their annual cloud spending exceeds $1.2 million.[4]
  • Around 82% of consumers, according to Lightico Research from March 2020, expressed anxiety about visiting their branch in person, and 63% said they would be open to using the digital application.[4]
  • The Association of Certified Fraud Examiners claims that as a result of the pandemic, the risk of cyber fraud rose dramatically, rising from 45% in May 2020 to 47% in August 2020.[4]
  • A huge 54% rise from 2019 to 542,300 fraud complaints were received by the Consumer Financial Bureau in 2020.[4]
  • The number of publicly disclosed breach occurrences reduced by 48% from 2019 to 2020, although numerous data exposed were more than 37 billion.[4]
  • MasterCard claims that 80% of transactions should be classified as low risk, requiring no further customer action.[5]

Also Read

Reference

  1. seon – https://seon.io/resources/risk-based-authentication/
  2. webinarcare – https://webinarcare.com/best-risk-based-authentication-software/risk-based-authentication-statistics/
  3. marketsandmarkets – https://www.marketsandmarkets.com/Market-Reports/risk-based-authentication-market-167648842.html
  4. mordorintelligence – https://www.mordorintelligence.com/industry-reports/risk-based-authentication-market
  5. okta – https://www.okta.com/au/identity-101/risk-based-authentication/

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