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Are you scared of the boogeyman?
Just in time for Halloween, new cybercrime statistics published by HP reveal that the cost of cyber attacks has risen more than 50% since last year. Stu Sjouwerman (pronounced “shower-man”), CEO of IT security firm KnowBe4, cautions that the number is likely to grow.
According to the Second Annual Cost of Cyber Crime Study, which was sponsored by ArcSight (an HP company) and conducted by the Ponemon Institute, survey respondents reported losses between $1.5 million and $36.5 million per year due to cyber attacks. What’s worse is that the study found a single attack now takes an average of 18 days and $416,000 to correct!
So what can you do to protect you and your company?
To educate you on the evolution of cybercrime – and help you better understand what you’re up against today – KnowBe4 provides an overview of the “Five Generations of Cybercrime” on its website.
“While the first generation of hackers were more interested in notoriety than financial gain, today’s cybercriminals – Generation Five – are more likely to be operating within organized crime syndicates and profiting handsomely from their schemes,” Sjouwerman explained. “Coding skills are no longer required. Tools and malware are readily available through a thriving underground market, so even a relative novice could quickly get in on the action.”
Read the full press release at KnowBe4’s website.
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