The prospect of a cyber breach looms for every business and the stakes have never been higher. A survey by the Ponemon Institute with Hewlett-Packard found that the average cost of responding to a cyber attack for U.S. companies has increased 96% over the last five years to a whopping $12.7 million. Considering that the 59 organizations which participated in the study have seen a 176% increase in the number of cyber attacks with an average of 138 successful attacks per week, the chances that a company will experience an attack increase every day.
The survey also found that it took approximately 170 days to detect an attack and another 45 days to resolve it, usually costing somewhere around $1.6 million to the company.
A global analysis report Ponemon conducted with IBM found the costs worldwide had risen 15% over last year, costing a company $3.5 million in US dollars this year to resolve.
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