Attacks rose to 42.8 million, causing an average of $2.7m in losses
The number of reported information security incidents around the world rose 48 percent to 42.8 million, the equivalent of 117,339 attacks per day in 2014, according to The Global State of Information Security® Survey 2015, released by PwC, in conjunction with CIO and CSO magazines. Detected security incidents have increased 66 percent year-over-year since 2009, the survey data indicates.
As security incidents become more frequent, the associated costs of managing and mitigating breaches are also increasing. Globally, the estimated reported average financial loss from cybersecurity incidents was $2.7 million – a 34 percent increase over 2013. Big losses have been more common this year as organizations reporting financial hits in excess of $20 million nearly doubled.
According to the findings, effective security awareness requires top-down commitment and communication, a tactic that the survey finds is often lacking across organizations. Indicatively, only 49 percent of respondents say their organization has a cross-organizational team that regularly convenes to discuss, coordinate, and communicate information security issues.
Drawing from the survey’s conclusions, PwC notes that it is critical for companies to focus on rapid detection of security intrusions and to have an effective, timely response. Given today’s interconnected business ecosystem, it is just as important to establish policies and processes regarding third parties that interact with the business.
To download a copy of the 2015 Global State of Information Security Survey and learn more about PwC’s capabilities, visit: http://pwc.to/GSISS15
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