Ponemon Institute has released its Second Annual Cost of Cyber Crime Study (sponsored by ArcSight, an HP Company). The study surveyed 50 U.S. larger-sized companies, e.g. companies with more than 700 enterprise seats connected to networks/systems.
Summary results include:
*Median annual cost of cyber crime is nearly $6 million, which is an over 50 percent increase from last year’s study results.
*More than 1 successful cyber attack each week is commonplace.
*Cyber attacks are typically generated by malicious code, denial of service, device theft and web-based attacks.
*Detection of the attack and recovery from it are the most expensive internal activities arising from an attack; information loss is the greatest external cost.
*Defense, financial service, utility and energy sectors have higher cybercrime costs than retail, hospitality and consumer product industries.
*Study results reveal cyber attack threat as not greatly impacted by the heavy use of cloud computing.
*Average number of days to resolve the cyber attack is 18.