You probably think you have everything covered.
So did Talk Talk, Sony, Ashley Madison, JP Morgan, Lloyds, RBS, HSBC (and those are just the most widely publicized instances of companies whose huge resources didn’t protect them from disaster).
The Ponemon Cyber Crime Report on the cost of global cyber crime 2015 makes scary reading:
- 14% annual increase in cyber-crime
- Business disruption is the highest external cost at 39%
- Of those companies surveyed the number of successful attacks was 1.9 per week
The cost of an average breach (including business disruption, lost sales, recovery of assets etc) for a company employing over 500 people has gone up to:
- £1.46 million
- The higher end of the range is £3.14 million.
- For a small business the range is £75k to £311k
However, when you add in the damage to reputation, and the consequent destruction of business value, the total sums will be much higher. The report also estimates that security intelligence systems offer the greatest cost savings at £1,275,546..