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Cybersecurity priorities for H2 2011

August 22, 2011

This one is simple – the #1 priority for any large organization between now and the end of the year MUST be timely detection.  The average time taken to respond to an incident, according to the latest survey of 50 large organizations by the Ponemon Institute, is…. are you sitting down… 18 DAYS.  That’s 18 days before any action can be taken to repel the attack, protect company data or take steps to ensure it doesn’t happen again!

Not surprisingly, the cost of cybercrime to an organization has risen in the last 12 month. The scale of the increase however – a whopping 56 percent – is, perhaps, more shocking.  The average cost of tackling cyber attacks is now an average of $5.9 million per company per year.  Hands up if your CEO would like to be able to put even half that back on the balance sheet?

Perhaps these figures won’t come as a huge surprise to anybody familiar with the traditional Enterprise response to a cyber or Wikileaks-style attacks – typically involving teams of security and IT analysts huddled in dark rooms, poring over multiple reports from an array of point security systems until they can make sense of the millions of pieces of security data and find correlations.

Unless this is addressed the cost of cyber attacks to large organizations will continue to rise – let’s face it, very few businesses can afford to spend that kind of money simply trying to respond to and tackle them. What is needed is a fundamental shift in the way that organizations detect and respond to cyber attacks.  The damage to both reputation and consumer confidence – not to mention the cost – for those that fail to rise to the challenge could be terminal!

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