According to the Ponemon Institute’s 2013 Cost of Cyber Crime study, the average cost to businesses of cyber crime is more than $7M per year—a 30% increase over last year. And the average number of attacks per company grew 20% to 73 successful attacks annually.
With the incidence and cost of cyber crime rising sharply, this study of 234 companies in six countries details the types of cyber attacks found to be most common and the losses resulting from each type of attack. There’s good news, though. Companies with robust security governance practices reduced annual losses by $800,000. And those implementing security intelligence systems drove down costs by an average of $2M and achieved 21% ROI on those systems.
Understanding the cost of cyber crime and the effectiveness of security countermeasures lets you more effectively plan security measures for your organization and estimate the ROI you might achieve with different security solutions.