IT Security

“Cybercrime Costs US Firms $15 million Per Year”

“The annual cost of cybercrime to US organizations rose nearly 20% over the past year to reach an average of $15m – far greater than the global figure, according to the latest data from the Ponemon Institute (Ponemon Institute headquartered in Michigan, is a research center dedicated to privacy, data protection and information security policy.) The $15m which cybercrime costs the average US firm is a whopping 82% higher than the figure was six years ago when the first Cost of Cyber Crime study was issued by Ponemon,” reports Phil Muncaster from Infosecurity Magazine. The article by Phil Muncaster also added that the most costly crimes are related to malicious insiders, denial of service and web-based attacks but the former takes longer to address – on average 63 days in the US. For the full article, click here