First Annual Cost of Cyber Crime Study
Despite widespread awareness of the impact of cybercrime, cyber attacks continue to occur frequently and result in serious financial consequences for businesses and government institutions.
Key takeaways from this report include:
- Cyber crimes can do serious harm to an organization’s bottom line. We found that the median annualized cost of cyber crime of the 45 organizations in our study is $3.8 million per year,but can range from $1 million to $52 million per year per company.
- Cyber attacks have become common occurrences. The companies in our study experienced50 successful attacks per week and more than one successful attack per company per week.
- The most costly cyber crimes are those caused by web attacks, malicious code and malicious insiders, which account for more than 90 percent of all cyber crime costs per organization on an annual basis. Mitigation of such attacks requires enabling technologies such as SIEM and enterprise threat and risk management solutions.