New report shows increasing propensity, impact of cyber attacks

It is no secret that cybercrime has become an increasingly high profile threat in recent years, which is why so many organisations are now looking to enhance their level of vulnerability management through procedures such as security audit evaluations.

However the exact scope of digital crime has now been revealed in a new study conducted by the Ponemon Institute and sponsored by Hewlett-Packard (HP).

It found that the average yearly cost of cybercrime in the US has increased by 38 per cent since 2010, and that US organisations are now being impacted by an average of 102 successful attacks every week, up from an average of 72 attacks per week in 2011.

Those figures have all contributed to the average annualised cybercrime cost incurred by a benchmark sample of organisations in the US rising to $8.9 million, with the majority of external costs coming from information theft and disruption to business or lost productivity.

According to HP a cyber attack takes on average 24 days to resolve, however can potentially take more than twice as long under certain circumstances, costing an average $591,780.

said Ponemon Institute chairman and founder Larry Ponemon in a statement released October 8.

HP has also conducted a cybercrime cost study for the Australian region, with the results to be released in a forthcoming webinar, scheduled to take place at 14:00 on October 25 (Sydney time).

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