Average cost of cybercrime soars 96% over 5-year period to $12.7M

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The average cost of cybercrime in the United States has soared 96 percent over a five-year period, reaching $12.7 million per enterprise this year, according to an annual study by HP and the Ponemon Institute.

That cost per enterprise ranges from $1.6 million to as high as $61 million this year, according to a review of 257 organizations.

In addition, the time required to resolve a cyberattack has increased by one-third over last year's figure, with the average cost to resolve one attack totaling more than $1.6 million.

The average time to detect a cyberattack was a disturbing 170 days, and the average time to resolve a cyberattack once detected was 45 days in 2014.

Enterprises have experienced a 176 percent increase in the number of cyberattacks over the five-year period, with an average of 138 successful attackers per week, compared to 50 attackers per week in 2010.

By industry, the highest annual cost per U.S. firm was in the energy and utilities, and defense industries. The average cost per company in the energy and utilities, technology and retail sectors rose most in the United States when compared to average cost over a five-year period. The retail sector alone has more than doubled when compared to average cost over the five-year period.

"Adversaries only need to be successful once to gain access to your data, while their targets must be successful every time to stop the barrage of attacks their organizations face each day," says Art Gilliland, senior vice president and general manager for enterprise security products.

For more:
- see the HP release
- read the full study (reg. req.)

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