Do You Know the Costs of Cyber Crime?

Today’s cyber thieves are stealing much more than credit card numbers. They’re after intellectual property. Once they get it, they’re willing to sell it to the highest bidder.

Stolen data translates into a lot of lost business for U.S. corporations. Each data breach results in companies losing about 3.7% of their customers, on average, according to the Ponemon Institute.

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But that’s not the only cost of a breach. Companies may have to beef up their systems and staff to find and solve the problem, which doesn’t come cheap. After the fact, the companies need to let customers know if their information has been compromised, and they have to spend even more to prevent the breach from happening again.

The potential economic, legal, and reputational costs of cyber crime are growing all the time. I guess the question is, are you one of those business owners who pays a little now to keep your site safe or not?

“There is a serious disconnect in how people view the threat of cybercrime.”
~ Norton lead cyber security advisor Adam Palmer

“Over the past 12 months, three times as many adults surveyed have suffered from online crime versus offline crime, yet less than a third of respondents think they are more likely to become a victim of cybercrime than physical world crime in the next year.”

According to the report, over two-thirds of online adults say they have been a victim of cybercrime in their lifetimes—and Symantec reports that 10 percent of adults say they have been victims of online crime on their mobile phones.

Read more from Digital Trends, Rack Space, and Trust Guard, the leader in website security.

Read the full article here:
http://blog.trust-guard.com/what-is-the-annual-cost-of-cyber-crime/

Here is more awesome, relevant content:
Acer Data Breach Didn’t Have to Happen!
NSA is Hacked. Secret Codes Stolen.
Do You Care Enough to Protect Your Customers’ Identities?Hacker Gets Access to 89% of Russian Email Accounts

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