January 27th, 2019
The average cost of a cyberattack is now estimated at $1.1 million, according to a new report from cybersecurity company Radware. For organisations that calculate rather than estimate the cost of an attack, that number increases to $1.67M, writes Ian Barker, Betanews…
The main impact of cyberattacks, as reported by respondents, is operational/productivity loss (54 percent), followed by negative customer experience (43 percent). What’s more, almost half (45 percent) report that the goal of the attacks they suffered was service disruption. Another third (35 percent) say the goal was data theft.
“While threat actors only have to be successful once, organisations must be successful in their attack mitigation 100 percent of the time,” says Anna Convery-Pelletier, chief marketing officer for Radware. “A cyberattack resulting in service disruption or a breach can have devastating business impacts. In either case, you are left with an erosion of trust between a brand and its constituency.”