RealTime IT News

Report: Cybercrime Costs $11.56 million per Organization

According to the 2013 Cost of Cyber-Crime Study, conducted by the Ponemon Institute and sponsored by Hewlett-Packard, the annual cost of cyber-crime in the U.S. now stands at $11.56 million per organization. The 2013 figure is an increase of 26 percent from the $8.9 million Ponemon reported in 2012.

As to why costs are rising, Ponemon noted that a number of factors are at play. One of them is the fact that security professionals continue to command higher salaries. Fundamentally though, the higher costs are due to the increased frequency and complexity of more stealthy attacks hitting enterprises.

Read the full story at eWeek:
Cyber-Crime Costs Continue to Rise: Study

Sean Michael Kerner is a senior editor at InternetNews.com. Follow him on Twitter @TechJournalist.