What do pickleball and cybercrime have in common?
According to statistics released by USA Pickleball, the number of Americans participating in the sport rose 85% from 2021 to 2023 making it the fastest growing sport in the US. During this same two-year period, data breaches increased 72% making cybercrime the fastest growing crime in the US. While the rapid increase in the popularity of pickleball has resulted in increased activity levels, socialization, and sense of community for Americans, the results of the rapid increase in cyberattacks has been devastating.
FBI’s Internet Crime Complaint Center (IC3) reported that cybercrime cost over $12.5 billion in 2023 alone. In addition to financial consequences, cyberattacks result in disruption of services, loss of essential data, and degradation of business reputation. Pickleball’s ascent in popularity is also accompanied by surprising costs; the bill for pickleball related injuries totaled $377 million according to a report from Medscape. In both scenarios, the costs associated with the rapid increase are staggering.
Businesses can no longer claim ignorance when an attack occurs and the “it will never happen to me” mentality held by some business leaders should be an immediate red flag to employees and clients.
The frequency and severity of data breaches have indeed escalated in recent years, posing substantial challenges to organizations and individuals worldwide. In its annual report released in January 2024, the Identity Threat Resource Center reported that one in ten publicly traded companies were compromised in 2023 with the healthcare, financial services, and transportation industries reporting more than double the number of compromises in 2023 when compared to data from 2022.
When considering the rapid increase in pickleball participation, researchers suggest part of the popularity results from the isolation people experienced during the COVID pandemic; people were ready to get out of the house and be social! Unfortunately, cybercriminals are also “getting out” more. When examining the rapid increase in cyberattacks, the following are all contributing to the growing threat:
Expanding Attack Surface: With the proliferation of internet-connected devices and the widespread adoption of cloud computing, the attack surface for cybercriminals has expanded dramatically. More endpoints, systems, and networks are now accessible to attackers, providing them with numerous opportunities to exploit vulnerabilities and launch attacks.
Sophisticated Attack Techniques: Cybercriminals are continually evolving their tactics, techniques, and procedures (TTPs) to evade detection and bypass security measures. Advanced persistent threats (APTs), ransomware-as-a-service (RaaS) models, and nation-state-sponsored attacks are becoming increasingly prevalent, demonstrating the growing sophistication of cybercriminals and threat actors.
Data Monetization: The value of personal and sensitive data on the black market has soared, driving cybercriminals to target organizations with the intent to steal and monetize data. Stolen credentials, financial information, intellectual property, and personally identifiable information (PII) can fetch high prices on underground forums, incentivizing attackers to launch data breaches for financial gain.
Supply Chain Vulnerabilities: The interconnected nature of modern supply chains introduces additional risk factors, as organizations rely on third-party vendors, contractors, and service providers to conduct business operations. Supply chain attacks, where attackers compromise trusted partners to infiltrate target organizations, have become a growing concern, amplifying the potential impact of data breaches.
Regulatory Pressure and Compliance Requirements: Stricter regulatory frameworks, such as the European Union’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), impose hefty fines and penalties on organizations that fail to adequately protect sensitive data. Non-compliance with these regulations not only poses financial risks but also damages the reputation and trust of affected organizations.
Insider Threats and Human Error: Insider threats, whether malicious or unintentional, remain a significant challenge for organizations. Employees, contractors, or partners with legitimate access to systems and data can inadvertently expose sensitive information through negligent actions or intentionally misuse their privileges for personal gain or malicious purposes.
Global Connectivity and Interdependencies: The interconnectedness of the digital ecosystem means that cyber threats transcend geographical boundaries, making organizations vulnerable to attacks from anywhere in the world. Moreover, the interdependencies between critical infrastructure sectors and industries increase the potential cascading effects of cyber attacks, amplifying their severity and impact.
Addressing the increasing frequency and severity of data breaches requires a comprehensive approach that encompasses robust cybersecurity measures, ongoing risk assessments, employee training and awareness programs, regulatory compliance efforts, and collaboration between public and private sectors. By adopting a proactive and holistic approach to cybersecurity, organizations can better defend against evolving threats and safeguard sensitive data from unauthorized access and exploitation. Failure to implement proper security measures creates the vulnerabilities cybercriminals leverage to breach an organization’s IT environment.
While it is apparent that cybercrime is on the rise, certain sub-sectors of the economy are targeted more frequently than others and the single most attacked industry worldwide will likely come as a surprise.
UP NEXT: Data Rich and Resource Poor: The Most Exploited Industry
Sources:
https://www.nbcnews.com/health/health-news/pickleball-injuries-rising-bone-fractures-rcna137044
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6913863
https://www.forbes.com/advisor/education/it-and-tech/cybersecurity-statistics/#Sources
https://www.ic3.gov/Media/PDF/AnnualReport/2023_IC3Report.pdf