Cyber Crime is costing enterprises more and more money

Cyber Crime is costing enterprises more and more money

In the course of the most recent two years, the expenses due to cyber crime have increased: The new Cost of Cyber Crime Study by Accenture and the Ponemon Institute implies that costs are 23 percent higher than last year and summing up to US$11.7 million. In this number are included the costs for cyber security measurments and the time spent for business recovery in case of an attack. However, current spending is somewhat misled as it fails to prevent data breaches and hacks.

Certain branches are more often targeted than others

Nearby, the expanded cost of digital wrongdoing keeps running into a normal of over US$11.7 million. It is for associations in ventures like financial administrations, utilities, and energy, that aggressors in cybercrime are getting more quick-witted. Hackers are developing new plans of action to exploit as much money as possible.

The use of ransomware, for example, has doubled in the last year. Also, enterprises now need over 23 days to recover from a ransomware attack. Meanwhile, the absolut number of cyber attacks and data breaches has risen by more than 27%. This is from a normal of 102 to 130

The Cost of Cybercrime Study overviewed 2,182 IT and security experts in 254 associations around the world. 

Date: 8 December 2017, 7:59 am
Keep Reading: