The High Cost of Cybercrime

TechnologyOctober 13, 2015

Everyone knows there’s a price to pay for cybercrime, which continues to grow and spread at an alarming rate. But, do you know exactly how high the price can be? Michigan-based Ponemon Institute recently conducted a study to affix a price tag to the cost of cybercrime in the United States, as reported by the Associated Press. The number researchers came up with is rather staggering--he annual cost of cybercrime to the average large U.S. company is pegged at $15.4 million, with each cyberattack averaging in the neighborhood of $2 million. One year earlier, the overall cost was estimated at $12.7 million, which translates into a roughly 19 percent hike over the last year alone. And the report says today’s cost is 82 percent higher than it was in 2009. While cybercrime’s average cost was more than $15 million, researchers said the cost to individual companies varied. Depending on the attack’s focus and andthe size of the company’s digital footprint, the difference could range from as low as $1.9 million to as high as a staggering $65 million. The Ponemon study was based upon surveys of approximately 60 U.S. companies, each with a minimum of one thousand individual computer network connections.

#CyberWarriors Wanted To Help Prevent Cybercrime

Face it – cyber threats aren’t going away. And, while most of us don’t have a thousand Internet connections, cyber security is important to everyone. With so many aspects of our lives reliant on computer, a cyber attack can hit us in the worst spots. Our transportation systems, government functions, banks, and personal medical records all rely on the internet. A breach in these systems could cause wide-spread damage. However, we are fortunate to have a growing number of cyber security specialists on our side, constantly working to defuse potential cyberattacks. It takes a special kind of person to create new defenses that stop future cyber threats, or to detect--and defeat--sophisticated hack attacks. If that person is you, Fortis College in Centerville, Ohio, offers an Associate’s degree program in Cyber Security and Forensics that can prepare you to be the next #CyberWarrior. To learn more about a future in Cyber Security and Forensics, call 937-433-3410.

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