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New York Cybercrime Report Shows 53% Increase in Attacks Since 2016

Posted on October 11, 2023October 11, 2023 By Martin Hinton

A new report released by New York State Comptroller Thomas P. DiNapoli today shows that cyberattacks in the state have increased 53% since 2016, jumping from 16,426 incidents in 2016 to 25,112 in 2022. The report also found that New York had the third-highest number of ransomware attacks and corporate data breaches in the nation in 2022, trailing only California and Texas.

In one case, in 2019, the Syracuse City School District was hit by a ransomware attack. The district said cyber insurance covered all but a $50,000 deductible. “We expect the cyber insurance policy to cover the costs of this incident, subject to a $50,000 deductible,” the district said in a statement. The district did not reveal the entire cost of the incident.

NY State State Comptroller Thomas P. DiNapoli

The Comptroller report found that the most attacked critical infrastructure sectors through ransomware and data breaches in New York were Healthcare and Public Health, Financial Services, and Commercial Facilities and Government Facilities.

DiNapoli said that the report shows that cyberattacks are a serious threat to New York’s critical infrastructure, economy, and everyday lives. He urged the state to continue investing in cybersecurity, coordination, and vigilance.

The report also includes recommendations for local governments and schools to help them manage the risks associated with cybersecurity.

Key findings from the report:
  • Cyberattacks in New York state increased 53% between 2016 and 2022.
  • New York had the third-highest ransomware attacks and corporate data breaches in the nation in 2022.
  • The most attacked critical sectors through ransomware and data breaches in New York were Healthcare and Public Health, Financial Services, Commercial Facilities, and Government Facilities.
  • Estimated losses in New York from cyberattacks in 2022 totaled over $775 million.
  • DiNapoli urged the state to continue investing in cybersecurity, coordination, and vigilance.
See also  Fitch Updates Estimates on Growth of US Cyber Insurance Market 
Recommendations for local governments and schools:
  • Implement cybersecurity governance aspects such as training in IT security awareness, policies and procedures, and the need for contingency plans.
  • Conduct regular cybersecurity audits to identify and address vulnerabilities.
  • Keep systems and software up to date with the latest security patches.
  • Implement strong authentication and access control measures.
  • Monitor systems for suspicious activity and respond to incidents promptly.

The report is a reminder of the growing threat of cybercrime. It is important for businesses, governments, and individuals to take steps to protect themselves from these attacks.

Other News: New York Attorney General Secures $3.5 Million from Marymount Manhattan College to Protect Students’ Online Data(Opens in a new browser tab)

Cyber Insurance Reports Tags:cyberattack, Cybercrime, NY State, NY State Comptroller

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In this clip from our latest podcast, Dan Candee, CEO of Cork Protection, discusses a critical component of SMB cyber resilience—the evolving role of cybersecurity insurance. Dan highlights the need for nimbleness in cyber coverage, especially for small businesses that often bear the brunt of devastating attacks.

💬 Quote Highlight:
"At the end of the day, my business is to serve the SMB market... who is providing the most value fastest." – Dan Candee, CEO Cork Protection.

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Cyber Insurance for SMBs – What Needs to Change? | Dan Candee Interview
In this clip from our latest podcast episode, Dan Candee, CEO of Cork Protection, dives into a critical topic that hits close to home: Cybersecurity for Main Street businesses.

🛡️ With a background in enterprise-level cybersecurity on Wall Street and a personal connection to small business through his family, Dan shares why Cork focuses on protecting small and mid-sized businesses from rising cyber threats.

🚨 "The threat actors are getting better, and they're coming after Main Street more and more."

👉 Discover why Main Street is being underserved in today's digital threat landscape and how Cork is filling that gap with a unique value proposition.

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Cybersecurity for Main Street: Dan Candee on Protecting Small Businesses | CEO of Cork Protection
SMB Cyber Threats - In this episode of the Cyber Insurance News Podcast, host Martin Hinton talks with Dan Candee, CEO of Cork Protection, about the rising tide of cyber threats targeting small and mid-sized businesses (SMBs). Dan shares his journey from Main Street entrepreneur to cybersecurity leader, offering real-world insight into the threat landscape, financial vulnerabilities, and how AI and managed service providers (MSPs) can help fortify business resilience.

We explore:
• Why Main Street is more vulnerable than Wall Street
• Common SMB cybersecurity blind spots (like ACH fraud)
• The evolving role of managed service providers
• How Cork Protection blends cybersecurity and cyber insurance
• Real-world attack case studies and practical advice for SMBs

Whether you’re a small business owner, MSP, or cyber pro, this episode unpacks how to prepare, prevent, and protect your organization in today’s digital world.

📌 Topics: cybersecurity, cyber insurance, social engineering, SMB protection, ransomware, AI in security, MSPs

🎙 Guest: Dan Candee, CEO of Cork Protection
📢 Host: Martin Hinton, Executive Editor, Cyber Insurance News

👉 Don’t forget to like, comment, and subscribe for more insights on cyber insurance and digital defense!

#CyberSecurity #CyberInsurance #SMB #AI #CyberPodcast #BusinessResilience #smallbusiness #sme
00:00 Introduction - Dan Candee and Cork Protection
02:27 The Importance of Cybersecurity for Small Businesses
05:29 Understanding Cyber Threats and Their Impact
08:26 The Role of Managed Service Providers in Cybersecurity
11:24 24Financial Protection and Cyber Insurance Solutions
14:01 Leveraging AI in Cybersecurity
16:53 Navigating Cyber Insurance Policies
19:56 Empowering Small Businesses with Knowledge
21:52 The Future of Cybersecurity and Community Resilience
26:05 MSP/ MSSP The Lingo decoded
29:05 Finals Thoughts and a bit of Hope!
SMBs Are Cyber Targets | Dan Candee on Cyber Resilience & AI | Cyber Insurance News Podcast EP#6
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