HP and Ponemon Salute National Cybersecurity Awareness Month With Two Reports

 
  Article source:  HP Security

Article source: HP Security

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President Obama has designated October as National Cyber Security Awareness Month in the United States. Just one week into the month, and there are already over 62,000 news items available through Google Search covering this topic.

 
 

One company taking advantage of the momentum behind this government-driven campaign is Hewlett Packard's Security groupannouncing the release of two HP Security / Ponemon studies.

Some highlights of the 2015 Ponemon Institute of Cyber Crime Study (which can be downloaded here w/registration), include:

  • The mean annualized cost of cyber crimes is $12.7 million per year
  • The annualized cost of cyber crimes had a range from $1.6M to $61M each year per company
  • Smaller organizations incur a significantly higher per capita cost than larger ones ($1,513 versus $517)
  • Every year denial of services, malicious insiders, and malicious code account for more than 55% of all cyber crime costs
  • Companies that deployed security intelligence systems enjoyed an average cost savings of $5.3M and an ROI of 30%

A number of other security vendors have taken this opportunity to comment on the findings in the report.

  • “The findings of the study are not surprising,” said Dr. Kirda. “Many attacks are still successful as some of the current, modern defenses we have (e.g., sandboxing) have not yet become mainstream." Read more from Dr. Engin Kirda, Founder and Chief Architect of Lastline.
  • “This data aligns with recent reports,” said Szabó. “According to the latest Verizon Data Breach Investigating Report, in 60% of cases attackers are able to compromise an organization within minutes.” Read more from István Szabó, Product Manager of syslog-ng at BalaBit.
  • "The report highlights the direct relationship between the overall cost of a breach, and the time it takes to detect and stop them,” said Jeff Hill. Read more from Jeff Hill, Channel Marketing Manager and John Marshall, VP of Technical Services, both information security experts from STEALTHbits.
  • "Once again, the higher average cost for organizations with fewer seats reinforces that smaller companies are less prepared for an attack,” said Harry Wan, Co-Founder and Chief Technology Officer at Datum Security. “You may think this is fine if you assume it's only their own data that they are losing. Chances are though, it's not just their data—your data may be with them as well," Wan added.

Other articles from around the web

Associated Press
Study cites cybercrime's rising costs to corporations

NBC News
What Does a Hack Cost? U.S. Firms Shell Out $15M a Year on Cybercrime