Ponemon’s latest research, 2014 Cost of a Cyber Crime Study: United States, sharply quantifies a point that we’ve all come to understand: the cost of data breaches is quickly increasing for organizations of all sizes.
The ramp up in attacks throughout 2014 has now reached a steady drumbeat of daily breaches: ICANN, Bebe, Charge Anywhere, Park-n-Fly, and of course, Sony, just in the past couple weeks of December.
The Ponemon study calls out an important distinction: the impact of breaches is much greater on small and medium businesses than large enterprises. The real challenge in cybersecurity is how to protect the millions of businesses that don’t have enormous security budgets – yet, they face the same attacks and adversaries as the big guys.
Additionally, nearly half of the costs of a cyber attack is spent on detection and recovery activities. However, prevention is not dead; in most breaches, stolen employee credentials obtained through simple attacks like phishing are the initial entry point into a victim’s network.
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Simple technologies like strong authentication can offer effective preventative defense without falling into the typical expense-in-depth trap in the guise of defense-in-depth.
To help you get a quick snapshot of the numbers and the current state of the data breach, the Duo creative team designed this infographic using the Ponemon Institute’s 2014 Cost of Cyber Crime Study: United States. Learn about how to prevent a breach by downloading A Modern Guide to Retail Data Risks.
If you liked this infographic, you should check out our others! Click the image below to view it larger.
You can access the original article on Duo Security’s blog here.
By Jon Oberheide, Co-founder and CTO, Duo Security | @jonoberheide
Jon Oberheide is the co-founder and CTO of Duo Security, responsible for leading product vision and the Duo Labs advanced research team. Before starting Duo, Jon was a self-loathing academic, completing his PhD at the University of Michigan in the realm of cloud security. In a prior life, Jon enjoyed offensive security research and generally hacking the planet. Jon was recently named to Forbes “30 under 30” list for his mobile security hijinks.
About Duo Security
Duo Security is on a mission to provide advanced security solutions for organizations of all sizes. Duo’s innovative technology protects users, data and applications from credential theft and breaches with a focus on streamlined usability. The company was co-founded by CEO Dug Song, a major contributor to the security community, and CTO Jon Oberheide, expert cloud, mobile, and malware security researcher.