-Business loss due to cyber attacks

Mar

27

2017

$ 861 thousand per security incident
Forcing companies to spend 44% more to recover from detected attacks
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A new Kaspersky Lab report shows that the single cybersecurity incident currently costs an average of $ 861,000 per enterprise, while its cost to small and medium-sized businesses is $ 86,500.

“More worrisome is the cost of information recovery, which is greatly increased by the time of discovery,” said the Russian security solutions giant. Small and medium-sized companies are forced to spend 44% more to recover from attacks discovered after a week or more of initial penetration, compared with attacks monitored within a day. While large enterprises cost 27% in the same circumstances. ”

Kaspersky Lab reached these key conclusions in its preparation of the report “Measuring the Financial Impact of IT Security on Companies” based on the “Corporate IT Security Risk” for 2016.

In the report , the company compared the enterprise security budget and the losses incurred by serious accidents. Overall, companies expect IT security budgets to grow by at least 14% over the next three years due to the growing complexity of IT infrastructure.

According to the report, typical small businesses currently spend 18% of the total IT budget on security, while large companies allocate 21%. The research shows a wide disparity between companies of different sizes. The annual IT security budget varies from $ 1,000 for very small businesses to over $ 1 million for large companies.

To assess the total cost of recovery, both Kaspersky Lab and B2B International have asked companies to report their losses from the most serious security incidents in different categories. Although the most frequent costs are additional staff salaries, companies reported significant expenditure due to missed business opportunities, measures to improve information technology security, recruitment of external specialists and recruitment of new staff. Companies spend $ 79,000 on training and $ 85,000 when seeking help from outside experts, accounting for 19 percent of total loss.

“Based on our worldwide survey, the average IT security budget is estimated at 2.5 cyber attacks, after calculating all of the data,” said Vladimir Zabolianski, head of marketing for small and medium-sized businesses at Kaspersky Lab. Direct and indirect losses. With thousands of cyber threats faced by companies every day, the efficiency of cybersecurity is certainly feasible. Companies are aware of the threats clearly, with 59% of SMEs and 62% of large companies saying they will improve their security regardless of the ability to measure returns. ”

“However, the poll proves that the reaction time after the breakthroughs has a direct impact on the financial losses,” Zapolianski said. This can not be addressed by increasing the budget. It requires talent, intelligence and an agile attitude towards protecting business. As an information security service provider, our goal is to provide tools and intelligence for companies of all sizes, taking into account the difference in the ability to allocate security budgets. “

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