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October 9, 2013

Time to resolve cyber-attacks more than doubles: Ponemon Institute survey

HP has published the results from a study conducted by the Ponemon Institute, indicating that the cost, frequency and time to resolve cyber-attacks continue to rise for the fourth consecutive year.

Conducted by the Ponemon Institute and sponsored by HP Enterprise Security Products, the 2013 Cost of Cyber Crime Study found that the average annualized cost of cybercrime incurred by a benchmark sample of US organizations was $11.56 million, representing a 78 percent increase since the initial study was conducted four years ago.

The results also revealed that the time it takes to resolve a cyber-attack has increased by nearly 130 percent during this same period, with the average cost incurred to resolve a single attack totalling more than $1 million.

Key findings from the 2013 study include:

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