Every enterprise has high-value information vital to its success. As cyber-attack techniques become more sophisticated, this “digital gold” is increasingly vulnerable.
A study by the Ponemon Institute found that the average annualized cost of cybercrime in 2012 is $8.9 million per year, with a range of $1.4 million to $46 million.* The cost of cybercrime includes more than the value of the stolen information. It includes the costs of business disruption, lost opportunity, damage to brand, and recovery efforts.
- Sony estimated their costs from 2011 data breaches were at least $171 million.
- A competing manufacturer stole source code from a control-system supplier the supplier’s stock dropped 83%.
- A metallurgical company lost to cyber espionage technology built over 20 years at a cost of $1 billion.
- The Canadian government stopped a $38.6 billion takeover bid when attacks compromised sensitive information at government agencies and law firms.
- Civil penalties for ePHI breaches can be up to $250,000, with repeat/uncorrected violations reaching $1.5 million per violation, per year
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