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The Hidden Costs of Cybercrime

The Hidden Costs of Cybercrime

 

  • Global losses from cybercrime now total over $1 trillion, a more than 50 percent increase from 2018
  • Two-thirds of surveyed companies reported some kind of cyber incident in 2019
  • Average interruption to operations at 18 hours; the average cost was more than half a million dollars per incident
  • IP theft and financial crime account for at least 75 percent of cyber losses and pose the greatest threat to companies
  • Damage to companies also includes downtime, brand reputation and reduced efficiency
  • 56 percent of surveyed organizations said they do not have a plan to both prevent and respond to a cyber incident
Business Challenge: Navigating an evolving threat landscape
Stage: Identify Problems