The cost and frequency of cyber attacks on the rise

The cost, frequency and time to resolve cyberattacks continue to rise for the fourth consecutive year, according to a global study by HP and the Ponemon Institute.

The 2013 Cost of Cyber Crime Study found that the average annualized cost of cybercrime incurred by a benchmark sample of U.S. organizations was $11.56 million, representing a 78 percent increase since the initial study was conducted four years ago.

The results also revealed that the time it takes to resolve a cyberattack has increased by nearly 130 percent during this same period, with the average cost incurred to resolve a single attack totalling more than $1 million.

SOURCE: net-security.org