Security Vulnerabilities Prove Increasingly Costly

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The latest survey from ArcSight and the Ponemon Institute finds resolving various cybercrime attacks costs the typical organization almost $4 million a year. eSecurity Planet reports.

Cyber attacks continue to plague organizations of every size, costing companies and consumers millions of dollars and months, if not years, of headaches.

The latest study by security researchers at the Ponemon Institute and ArcSight, a provider of threat and risk management applications, found that virtually every organization is hit with a significant cyber attack at least once a week and, worse yet, the average cost of resolving these coordinated phishing and malware campaigns is now more burdensome than ever before.

Over a four-week period, the 45 organizations surveyed in the study reported 50 successful attacks a week, resulting in a median annualized cost of $3.8 million per organization per year. Depending on the severity and complexity of the cyber attacks, these organizations reported spending between $1 million and as much as $52 million to deal with these constant security threats.

Read the rest of "Cyber Crime Costs on the Rise: Study" at eSecurity Planet