Cybercrime affects all markets, all industries and all sized companies from SMBs to global corporations. Every year, the cybercrime cost to companies is in the billions of dollars. With each year, cybercrime also becomes increasingly sophisticated.
Cybercrime Cost to Business
Center for Strategic and International Studies (CSIS):
-Cybercrime cost is between $375 and $575 billion every year.
-Leaks from insiders and web-based attacks including denial of service (DoS) attacks are the most damaging.
-Cybercrime cost includes direct losses, prevention and recovery.
-Recovery and defense costs are rising.
-Effects on businesses include brand, reputation and customer-relations damage.
Damage to Well Known Brands:
Stock dropped 2.4 percent following theft of 53 million email addresses and 56 million card numbers (September 2014).
Stock fell 1.1 percent following publication of employee records and emails between Hollywood executives (November 2014).
Stock dropped 1.1 percent following theft of email and physical addresses as well as social security numbers (February 2015).
Cybercrime Cost Future Stats:
-Cybercrime could cost the global economy $2.1 trillion by 2019.
-Attacks against the Internet of Things and mobile devices will likely increase.
-Existing network and IT infrastructures will likely remain the most common targets.