Cyber-crime Expenses Increasing since 2010, Reveals Study

According to a study -"Second Annual Cost of Cyber-Crime" that Ponemon Institute recently conducted, costs of cyber-crime for businesses have grown 56% since 2010 and they inflict both government and enterprises.

Notably the study finds that cyber-crime has the potential to cause severe damage to the end-product of an organization, as it discovered a mean cost of $5.9m due to such crime for the total 50 firms polled.

And as for tackling e-threats, the research discovered that it took a mean of 18-days for addressing one, leading to a mean $416,000 in price tag. The figures were higher than a mean of 14-days and $250,000 for each assault during 2010. Moreover, the total number of effective strikes was also higher; 72 over a trial period of 4-weeks, accounting for a 45% rise since 2010.

Additionally, within the 2011 research, Ponemon Institute stated that malware accounted for the most frequent and costly cyber-crime. That was accompanied with DDoS assaults, sinister insiders as also tools, which had been hijacked via compromising and stealing.

Also for attack types, all organizations polled complained of encountering Trojans, worms, or viruses, followed with malicious software (96%), botnets (82%), Web-oriented assaults (64%), deceptively-grabbed devices (44%), malicious code (42%), social engineering and phishing (30%), and sinister insiders (30%).

Additionally, there are certain kinds of attacks that are costlier as also consume more time for rectification. Generally, the attacks that were most expensive dealt with denial-of-service condition, while they meant an expense of approximately $188,000 per annum vis-à-vis attack frequencies to companies. Following this were Web-oriented assaults ($142,000), malicious code ($127,000), and sinister insiders ($105,000).

Prescott Winter CTO of ArcSight Public Sector says, it's harder for cleansing up treacherous assaults since they infiltrate silently for positioning the criminal downwards on the infrastructure's hierarchy as also for managing in grabbing data over the long-run. CIO reported this on August 3, 2011.

Meanwhile, security specialists state that cyber-assaults are getting increasingly advanced and therefore perilous. Also, given that during 2010, perceivable attacks had grown accompanied with more time for fixing them, it's evident that the cyber-crime scenario is constantly developing vis-à-vis frequency and severity of attacks.

Related article: Cyber Child abuser Sentenced To Imprisonment

» SPAMfighter News - 8/13/2011