New Research Reveals 56% Rise in Cost of Cybercrime

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New Research Reveals 56% Rise in Cost of Cybercrime

By CircleID Reporter
August 04, 2011, 6:57 pm PDT Views: 5,347 Add Comment

New research indicates cyberattacks increasingly plague businesses and government organizations, resulting in significant financial impact, despite widespread awareness. Conducted by the Ponemon Institute, the Second Annual Cost of Cyber Crime Study revealed that the median annualized cost of cybercrime incurred by a benchmark sample of organizations was $5.9 million per year, with a range of $1.5 million to $36.5 million each year per organization. This represents an increase of 56 percent from the median cost reported in the inaugural study published in July 2010.

By CircleID Reporter

CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.

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