CDSA

Cyber Attack Costs Hit Record High (Info Security Buzz)

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On average, a single cybersecurity incident now costs large businesses $861,000, while small and medium businesses (SMB) end up paying $86,500. Most alarmingly, the cost of recovery significantly increases depending on the time of discovery. SMBs tend to pay 44% more to recover from an attack discovered a week or more after the initial breach, compared to attacks spotted within one day. Enterprises pay a 27% premium in the same circumstances. These are the main findings of Kaspersky Lab’s report “Measuring the Financial Impact of IT Security on Businesses” based on the 2016 Corporate IT Security Risks survey.