Daily DashboardEuropean Data Protection Digest

Report: Cyber Attacks Cost up to $53 Million Per Year

DATA PROTECTION

July 27, 2010

A Ponemon Institute report has found that organizations are the victims of cyber attacks at least once per week, costing from $1 million to $53 million per year. "The First Annual Cost of Cyber Crime Study" found that Web-borne attacks, malicious code and malicious insiders are the most costly cyber attacks and that information theft remains the highest consequence, Dark Reading reports. Of the 45 U.S. organizations surveyed, the majority were "random and haphazard in their approach" to the problem, said Ponemon Institute CEO Larry Ponemon, CIPP. Meanwhile, a Digital Forensics Association report found that nearly half of all reported breaches in the last five years were due to mainly laptop thefts and that Social Security numbers are the most commonly compromised form of data.
Full Story