International organisations will spend up to 26 percent more for cybersecurity in 2018, as the average cost of a data breach is now estimated to be $1.23 million for large companies (up 24 per cent from 2017) and $20,000 for small and medium businesses (up 36 per cent from 2017), according to Kaspersky Lab’s annual corporate technology risks survey.
The report shows that in North America, the average cost of a security breach for an enterprise has reached $1.6 million (an increase of 23 per cent from 2017) on average, and that it is the most expensive location for an SME to suffer a data breach compared to all seven regions in the study.
IT security budgets are increasing, meaning that larger commercial organisations are spending almost a third of their IT budget on cybersecurity ($8.9 million on average), redefining the strategic role of corporate data protection. For smaller businesses, the average value allocated to cybersecurity is $246,000, or 23 per cent of the overall IT budget.
Kaspersky's research found that the top three motivations for investing in IT security are increased complexity of IT infrastructure (34 per cent), to improve the level of specialist security expertise (34 per cent) and top management wanting to improve defences (29 per cent).
Europol Releases Latest IOCTA Report
Each year, Europol’s European Cybercrime Centre (EC3) publishes the Internet Organised Crime Threat Assessment (IOCTA), its flagship strategic report on key findings and emerging threats and developments in cybercrime — threats that impact governments, businesses and citizens in the EU.read more
European Cybersecurity Month 2019 Is launched
October marks the kick-off of the European Cybersecurity Month (ECSM), coordinated by the European Union Agency for Cybersecurity (ENISA), the European Commission and supported by the Member States. This campaign will focus on expanding awareness about cybersecurity to citizens across Europe.read more
Remote Desktop Attacks Increasing
The Remote Desktop Protocol (RDP) is being used by cyberattackers to penetrate and extract data from a network before introducing their malicious software to perform internal reconnaissance, according to a new Vectra 2019 Spotlight Report on RDP.read more
LexisNexis Report On Cybercrime Has Shock Figures
LexisNexis Risk Solutions has released at the Digital Identity Summit its Cybercrime Report providing a comprehensive view into the shifting global fraud landscape from January 2019 through June 2019. During this period, the LexisNexis Digital Identity Network recorded 16.4 billion transactions, of which 277 million were human-initiated attacks, a 13 per cent increase over the second half of 2018.read more