Businesses Are Losing $11.7M a Year on Cyber Crime According to Report

A recent study showed that over the last 5 years, cybercrime has increased 62% and organizations are losing around $11.7 million in a year

A press release from Accenture and Ponemon Institute announced a study they have conducted called “The Cost of Cyber Crime Study”. The research was based on survey results of around 2,182 IT and security professionals in 254 international organizations. Among all the attacks, malware infections are the most expensive, costing each victim an average of $2.4 million.  43% of the survey takers revealed that the biggest damage comes from loss of information.

The report revealed that in 2016, cybercrime costed companies $9.5 million.

Source: Tech Republic

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