Cyberattacks targeting businesses almost doubled from 82,000 in 2016 to 159,700 in 2017. Additionally, seven billion records were exposed in the first three quarters of 2017 and the FBI reports that global BEC ((Business Email Compromise) losses amounted to $5.3 billion USD.
According to the 2017 Cost of Cyber Crime Study by Ponemon Institute, the average annualized cost of cybersecurity is $ 11.7 million USD. The report also indicates there is an average of 130 security breaches per company each year, which has increased from 102. The percentage increase in the cost of cybersecurity in a year is 22.7% and the percentage increase in the average annual number of security breaches is 27.4%.
Today, cyberattacks are taking place in a wide range of businesses around the world. It is, therefore, no surprise that 7 out of 10 organizations report that their security risk increased considerably in 2017.
In another survey, network security is the leading investment priority of 59% of respondents composed of 150 individuals involved in the purchase or management of infrastructure systems as of August 2017.
Despite making cybersecurity a top priority, however, only around 33% of…
