Sunday, August 21, 2011

Cyber Crime by Insiders Discovered at 30% of Organizations - Ponemon 2011 Study

30% of organizations experienced cyber crime by malicious insiders according to "Cost of Cyber Crime Study Benchmark" for 2011 by the Ponemon Institute. Malicious insiders are the 4th most costly category of cyber crime and account for 17% of all cyber crime costs.
$105,352 is the average annual cost of insider crime - Ponemon Institute, August 2011

Information Theft is Highest External Cost
On an annualized basis, information loss accounts for 40% of total external cost of cyber crime. This is significantly higher than the other three categories - business disruption or loss of productivity (28%), revenue loss (18%) and equipment damages (9%).

Detection and Recovery are Highest Internal Costs
The internal costs of cyber crime are driven by the labor required by each stage of incident response. Given that malicious insider attacks can take more than 45 days on average to contain, there is great potential for cost savings due to automation and use of pay-per-use services.

Reducing the Cost of Insider Crime
Reduce the incidence and cost of insider crime by using identity and access intelligence (IAI) technology to detect excessive access rights that provide the opportunity for financial fraud and data theft by insiders. Further reduce your costs by using an on-demand IAI service with a pay-per-use model which is far more cost effective than traditional licensed software.
Learn how the Veriphyr Identity and Access Intelligence service effectively deters or automatically detects data loss or theft by insiders - with no hardware and no on-site software.
NOTE: In the report cyber crimes includes any criminal activity conducted via the Internet and includes viruses and worms, malicious insiders, web-based attacks, malicious code, phishing, botnet, denial of service, and malware.

(a) "Second Annual Cost of Cyber Crime Study Benchmark Study of U.S. Companies" by Ponemon Institute released August of 2011

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