Follow Us

We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message

US tops global survey for costs associated with cyberattacks

Cyberattacks cost the US £6m last year. DDoS attacks are more common in the UK, costing £1.9m

Article comments

According to a survey of 56 corporate and governmental organisations in the the US conducted by the Ponemon Institute, the average amount they paid for all the costs associated with cyberattacks was £6 million ($8.9 million) during the past year. That's up 6 percent from the previous year's study.

And for the first time, Ponemon expanded the survey to other countries, including the United Kingdom, Germany, Australia and Japan. Costs ascribed to cyberattacks in those locales was significantly lower: £3.7 million ($5.9 million) in Germany and $5.1 million in Japan, for example.

In the UK and Australia, where cybercrime costs per year were $3.2 million and $3.3 million respectively, denial-of-service attacks were more commonplace. German companies were the least likely to experience malicious code and denial-of-service, while Japanese companies least likely to experience malicious insiders and Web-based attacks.

The study, sponsored by HP Enterprise Security, offers some explanation for why the US cybercrime figure is far higher. "We found that US companies were much more likely to experience the most expensive types of cyber attacks, which are malicious insiders, malicious code and web-based incidents," the report says.

Institute founder Larry Ponemon acknowledges that with only 56 organisations participating in the survey, the sample is insufficient to reach a firm conclusion as to why the cost of cybercrime in the US does appear higher than elsewhere.

The study cited five "external" cost factors associated with cybercrime: business disruption, information loss or theft, revenue loss, equipment damages and "other." The "internal cost" factors were detection, investigation and escalation, containment, recovery and subsequent efforts to ward off future attacks.

US companies cited information theft as accounting for 44 percent of total external costs.

Cybercrime costs among the 56 companies participating in the survey ranged from $1.4 million to $46 million. Most of the cybercrime costs were related to mitigation of attacks caused by denial-of-service, malicious insider and Web-based attacks.



Share:

More from Techworld

More relevant IT news

Comments



Send to a friend

Email this article to a friend or colleague:

PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.

Techworld White Papers

Choose – and Choose Wisely – the Right MSP for Your SMB

End users need a technology partner that provides transparency, enables productivity, delivers...

Download Whitepaper

10 Effective Habits of Indispensable IT Departments

It’s no secret that responsibilities are growing while budgets continue to shrink. Download this...

Download Whitepaper

Gartner Magic Quadrant for Enterprise Information Archiving

Enterprise information archiving is contributing to organisational needs for e-discovery and...

Download Whitepaper

Advancing the state of virtualised backups

Dell Software’s vRanger is a veteran of the virtualisation specific backup market. It was the...

Download Whitepaper

Techworld UK - Technology - Business

Innovation, productivity, agility and profit

Watch this on demand webinar which explores IT innovation, managed print services and business agility.

Techworld Mobile Site

Access Techworld's content on the move

Get the latest news, product reviews and downloads on your mobile device with Techworld's mobile site.

Find out more...

From Wow to How : Making mobile and cloud work for you

On demand Biztech Briefing - Learn how to effectively deliver mobile work styles and cloud services together.

Watch now...

Site Map

* *