Security Think Tank: Cyber resilience cheaper than attack recovery

What key things should organisations be doing in terms of cyber defences to ensure they are resilient?

The reality of suffering a cyber attack is not a case of if, but of when. With the impact of compromised data including lost productivity, possible litigation, a huge financial hit, the process of recovering from an attack, as well as the damage to organisation’s reputation, this means a cyber attack can be very costly.

According to the 2017 Ponemon cost of cyber crime study, an annual global cyber crime report, there is more than a 27% chance that organisations will have a material data breach in the next 24 months.

The average cost of such cyber crime is a staggering $3.62m. While that number is down from previous years, the average size of data breaches has increased 1.8% to more than 24,000 records.

It is also taking businesses and organisations significant time to recover from these attacks. It takes an average of 191 days for businesses to detect the attacks and an average of 66 days to clean up following the discovery.

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