$1.7M is the Average Cost of a Cyber-Attack

guest · Jan 15, 2019

$1.7M is the Average Cost of a Cyber-Attack
January 15, 2019
https://threatpost.com/threatlist-cost-cyber-attack/140870/

The average cost estimate for cleaning up a cyberattack comes in at around $1.1 million, according to a recent survey. But this is actually a rosy view: For those organizations that actually calculate (versus estimate) the real cost of an attack, that number increases significantly to $1.67 million.

About half of the respondents said that the main impact of an attack lies in revenue-killing operational and productivity loss (54 percent), followed by negative customer experience (43 percent).

“While threat actors only have to be successful once, organizations must be successful in their attack mitigation 100 percent of the time,” said Anna Convery-Pelletier, CMO for Radware, in the report.
“A cyberattack resulting in service disruption or a breach can have devastating business impacts. In either case, you are left with an erosion of trust between a brand and its constituency.”
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mirimir · Jan 15, 2019

OK, language quibble. $1.7 million may be the average impact of cyber attacks.

But the average cost is probably more like $1.7 thousand. Or maybe less. Attacks by states, mafias, etc obviously cost a lot more. But arguably it's individuals and small groups that do most attacks. And I've see rent-a-hacker prices in the $hundreds to $thousands range.

guest · Jun 19, 2019

Cost per Cyberattack Jumps to $4.6M in 2019
June 19, 2019
https://www.darkreading.com/perimeter/cost-per-cyberattack-jumps-to-$46m-in-2019/d/d-id/1335008

The cost of cyberattacks spiked more than $1.5 million in the past year, going from $3 million per incident in 2018 to $4.6 million in 2019. Pricier breaches are becoming more frequent: The percentage costing $10 million or more nearly doubled from 7% in 2018 to 13% this year.

Still, companies have a long way to go. Seventy percent of senior executives polled in North America and Europe say their organization experienced a cyberattack in the 12 months prior. Three-quarters of those in EMEA admit their networks are vulnerable to cyberattacks.
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guest · Aug 27, 2019

Disruption: The True Cost of an Industrial Cyber Security Incident
August 26, 2019
https://www.tripwire.com/state-of-s...ost-of-an-industrial-cyber-security-incident/

Industrial control systems are essential to the smooth operation of various national critical infrastructure. While once segmented from the web, these systems are now becoming increasingly more networked and remotely accessible as organizations transform to meet the digital age. This development potentially exposes industrial control systems to digital threats.

Industrial professionals would be wise to not underestimate threats against industrial control systems. That’s because the costs of disruption can be significant to the business. In response to a 2016 ransomware attack, Michigan’s Board of Water & Light ended up paying approximately $2 million dollars [...]

To begin hardening their environments against disruption, industrial organizations need to appreciate the ongoing convergence between information technology (IT) and operational technology (OT). They need to specifically look to harden their OT assets against IT threats as they continue to incorporate information technology into their environments.
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