Costly cyber attacks are having a significant and growing financial impact on businesses worldwide. According to new research published today by Accenture (NYSE: ACN) and the Ponemon Institute, in 2017 the average cost of cyber crime globally climbed to $11.7 million per organization, a 23 percent increase from $9.5 million reported in 2016, and represents a staggering 62 percent increase in the last five years. In comparison, companies in the United States incurred the highest total average cost per crime at $21.22 million while Germany experienced the most significant increase in total cyber crime costs from $8.44 million to $11.15 million. This surge follows a recent string of infamous malware attacks including WannaCry and Petya, which cost several global firms hundreds of millions of dollars in lost revenues.
Source : Security Magazine