About Us | Contact Us
View Cart

Companies Pay the Price for Cyber-Attack Negligence

By Vigilize | Tuesday, October 16, 2012 - Leave a Comment

Survey results show the cost of being unprepared for a cyber-attack is going up.

Costly Cyber-Attacks
According to a study conducted by Ponemon Institute, companies are losing on average $8.9 million as a result of cyber-attacks every year. Of the 56 companies surveyed, they found that those which were slow to detect attacks ended up expending the most money. On average, it was found that companies needed 24 days to resolve the issue, paying more than $590,000 per incident. This is an increase of 42 percent from last year.

The cost of detecting, responding to, and recovering from cyber-attacks can add up quickly. Investing in network and system monitoring services and technologies can really cut down on the response and resolution time, cutting the total cost of a single cyber-attack by over $1.5 million.

The study found that companies with active security information and event management systems or intrusion detection systems paid on average $1.7 million less than those companies with no such systems. Similar savings could be found for companies which invested in access and identity management tools as well as governance, regulation, and compliance tools.

It’s all about reducing the window of time in which infection stays resident. Early detection is the key to shrinking this window and reducing costs.


Original article by Robert Lemos.
Read the full story here.

Latest News
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Many organizations still fail to consider the unique risks posed by cloud computing… An article review. Last month thousands of Western Digital MyCloud device owners learned about the risks of cloud-based solutions the hard way: their data had been wiped remotely due to a flaw in the internet-facing component of their external hard drives. While […]
    infotex does not use Kaseya… We are protecting our Clients! Another blog post meant to inspire thought about IT Governance . . . . To all infotex managed security service Clients: As you may be aware there was a large ransomware attack recently that leveraged a remote management tool called Kaseya that is used by many […]
    While we’re not a news service, we often use current events to comment on trends and our services. This blog is intended to get people thinking about topics and trends in Technology Risk Management, through our article reviews, as well as through original blog articles about current events and our MSSP services (such as our […]
    PRESS RELEASE – FOR IMMEDIATE RELEASE BUSINESS NEWS Dan Hadaway and Sara Fultz co-wrote an article in the Spring 2021 issue of the Ohio Record, the Official Magazine of the Ohio Bankers League.  Find out on page 20 and 21 of the magazine how tabletop testing strengthens bank cybersecurity. You can read the article here! […]
    You’ve heard it from every MSSP you’ve met: the definition of a SIEM is in the eye of the beholder. But at infotex, we are not talking about the database – an asset whose definition is continuously evolving. We’re talking about the way three teams collaborate in an overall Technology Risk Monitoring process. And whether […]
    After the large number of high-profile breaches in the recent months, it is easy to become disconcerted about how to prevent such things from happening to your Bank. The answer to preventing a breach is a very complex one. infotex will explore this with you! The heightened level of awareness and extra protective tendencies that […]
    A follow-up on Dan’s 2008 Password Manifesto On the NIST Publication on Digital Identity Guidelines Another one of those Dan’s New Leaf Posts, meant to inspire thought about IT Governance . . . . In June 2017, NIST released a special publication on digital identity, NIST SP 800-63, that is starting to get the attention […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around your office. Interested in one of ours […]
    Over Seven Billion Usernames Have Been Leaked in Breaches Since 2011… An article review. An unfortunate fact of modern life seems to be the inevitable announcement of new data breaches, and if you’ve lost track of how many breaches you’ve had to perform a risk assessment on you’re probably not alone…but just how much personal […]