Cyber-attacks run up big bill for US companies

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Cyber-crime cost a benchmark sample of U.S. companies an average of $11.56 million in 2013, according to a study released by the Ponemon Institute and sponsored by HP. The cost is a 26 percent increase from 2012.

The most common cyber-crimes were caused by denial-of-service attacks, insiders and Web-based intrusions. The three types of crimes totaled more than 55 percent of all attacks. Information theft was still the most expensive cyber-crime, seconded by business disruption.

“The threat landscape continues to evolve as cyber-attacks grow in sophistication, frequency and financial impact,” Frank Mong, vice president and general manager for solutions, enterprise security products at HP, said in a statement.

The study found organizations were successfully attacked an average of 122 times a week, up from 102 in 2012.

Among the attack statistics, Ponemon discovered the average time to resolve a cyber-attack took 32 days, costing about $32,469 a day.

Cyber-attack costs varied by company size, but smaller companies were found to have higher per-capita costs than bigger ones.

A similar study documenting data breaches from 2012 released by Verizon earlier this year also found financial cyber-attacks were the most prevalent. The study focused mainly on the increase in state-sponsored spying as the second most common agent of breaches.

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Cybersecurity, HP, Tech, Verizon
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