The cost, frequency and time to resolve cyberattacks continue to rise for the fourth consecutive year, says a report by the Ponemon Institute.
Conducted by the Ponemon Instituteand sponsored by HP Enterprise Security Products, 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.