IT | Security

Security Incidents on the Rise, Are You Prepared?

By: Absolute Editorial Team | 10/24/2014

CSO Magazine has released its annual Global State of Cybercrime Survey 2015, conducted by PricewaterhouseCoopers, indicating that both security breaches are on the rise and that the costs associated with security breaches are also on the rise. The number of detected security incidents shared by respondents in 2014 rose to 42.8 million, a 48% increase over 2013.

Highlights from the report include:

  • Total number of security incidents: 42.8 million (up 48%)
  • Security breaches cost an average of $415,000 per incident per organization (though 2/3 couldn't even estimate the costs of a breach and these costs do not include legal liabilities or lawsuits)
  • Organizations reporting costs of $20 million or more rose by 92%
  • Total financial losses attributed to security compromises increased 34% over 2013
  • 54% of organizations have launched a mobile security strategy (up from 42%)
  • 46.9% of organizations have in place either MDM / MAM software (up from 39.2%)
  • 22.64% of organizations use geo-location / geo-fencing controls
  • 51.27% of organizations have employee security awareness training available
  • Insider crimes are more costly
  • Security spending is only 3.8% of the overall IT budget, actually dipping in the past year

The report indicates that many companies are failing to address data security, and that security on mobile devices is particularly left wanting. As John Pescatore, director at the SANS Institute, notes, many organizations are spending to secure against the latest “big threat,” instead of focusing on proactive and sustainable security programs.

With threats on the rise, and spending on the decline, we can only expect that data security incidents, both related to cybercrime and otherwise, will be on the rise. To learn how we can help you better understand your endpoint security and management options as they relate to data security, visit our website.