The average cost of cybercrime rose by over $1m last year to reach $13m per firm, with the impact of malicious insiders particularly noticeable, according to a new Accenture report. The consulting giant’s annual Cost of Cybercrime report is compiled from over 2600 interviews with hundreds of organizations across 11 countries. Those surveyed recorded an average of 145 cyber-attacks resulting in hackers entering their core networks or enterprise systems: up 11% over 2017 and 67% over 2014. Some 85% experienced phishing and social engineering attacks last year, up 16% on 2017, and 76% suffered web-based attacks. Those hit by ransomware also increased (15%) year-on-year, with costs growing 21% to around $650,000 per company on average.
Read about the new report by Accenture which reveals that the average cost of cybercrime rose by $1 million last year on Infosec Magazine.