Cyberattacks increase for both businesses and government organizations

By Neil Zawacki
Updated: August 03, 2011

On August 2nd, 2011, Hewlett-Packard released a public research report that showed that cyberattacks have increased in scope and number against businesses and government organizations. It also indicated that detection and recovery from cyberattacks are the most expensive internal activities within these sectors.

The report was performed by the Ponemon Institute and stated that the median cost of cybercrime among sample organizations was $5.9 million per year. The variation among organizations was quite large - some of them only had to spend $1.5 million to manage cybercrime, while others had to pay up to $36.5 million to deal with the issue. The numbers also indicate that the median cost has risen 56 percent since the previous study in July 2010.

According to the report, the sample organizations experienced 72 successful cyberattacks per week over a four-week period. This represents a 45 percent increase in cybercrime from the previous year. The report also indicated that the vast majority of cybercrime costs were related to malicious code, denial of service attacks, stolen equipment and web-based attacks.

The cybercrime study also explored the money and resources necessary to prevent an online attack from occurring in the first place. It found that the cost of cyberattacks tended to increase greatly if the damage was not quickly resolved and that most organizations took an average of 18 days to successfully resolve each incident. Advanced security intelligence and risk management solutions were also shown to notably lessen the overall impact of cybercrime.

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