The Impact of Cybercrime on Business

On Tuesday the Ponemon Institute – an independent researcher on privacy, data protection and information security policies – published its latest report entitled ‘Impact of Cybercrime on Business‘.

The report surveyed 2,618 C-level executives and IT professionals from the US, UK, Germany, Hong Kong and Brazil. Headlines from the report include:

  • Cyber criminals are in it for the money (surprise surprise – the report does get more detailed!)
  • The average number of attacks a UK company faces in a day is 66 (82 in Germany, 79 in Brazil, 47 in Brazil and 54 in Hong Kong)
  • The average cost of a data breach in the UK is £146,505
  • 76% of UK businesses have conducted training and awareness programmes
  • 49% of UK businesses have no encryption technology
  • 61% of UK businesses have no security certifications or audit
  • Read the full report here >>>

Source: Ponemon Institute

The report also concluded that too little is done in many countries to prevent cyber cybercrime. It identified that less than 50% of the organisations surveyed had no protection against botnets or ATP’s. And whilst smaller businesses may be less concerned that they would be a target of botnets or ATP’s, larger organisations should definitely heed the warning of this report. Cyber criminals are becoming ever more sophisticated and botnet software is freely available to purchase.

The report also highlighted executives concerns over mobile technologies. The rapid pace of mobile technology development far out strips that of the security measures to protect them.

Keep up to date with latest cyber security measures and information here >>>