The 2012 Cost of Cyber Crime Study was recently released by Ponemon and HP Enterprise Security highlighting that the cost and frequency of cyber crime have continued to rise for the third year in a row. In the study, malicious insiders and stolen devices were included as cyber crimes. The theft of laptops and mobile devices was reported by 46% of organizations and is considered one of the most expensive types of attacks.
Stolen devices accounted for 12% of annualized cyber crime cost for organizations, fourth after malicious code, denial of services, and web-based attacks. It is notable that device theft costs organizations more than viruses, worms, trojans and botnets combined, though the proportion of incidents is reversed: there were 252 stolen devices reported versus over 22,000 viruses, worms, trojans and botnets. It is clear from this that each incident of device theft is very costly to organizations, averaging $23,541 per incident of device theft.
Mobile devices are being stolen at an alarming rate putting corporate data at risk. Corporate data, network access, passwords and more are all risk vectors associated with mobile devices. These risks, coupled with industry regulations such as Sarbanes-Oxley and HIPAA, increase the importance of governance, risk management, and compliance (GRC) for the endpoint. By using Absolute Computrace, up to 80% of breach scenarios associated with the endpoint - laptops, tablets and mobile devices - can be mitigated.
Absolute Computrace allows IT administrators to remotely control and secure IT assets to enforce compliance policies, identify devices that might be at risk, and take preemptive and reactive measures if a security incident occurs. Computrace also provides Investigations and Recovery services in the event of non-compliant or criminal activities. Learn more about how Absolute Computrace provides foundational support for all activities related to GRC for the endpoint here and learn more about IT GRC in our new video.