Newsletters
Customer Relationship Management News NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home CRM Systems Customer Service Business Intelligence Sales & Marketing More Topics...
GET RECOGNIZED.
Let an ISACA® certification
elevate your career.

Register today and save
Business Briefing
24/7/365 Network Uptime!
Average Rating:
Rate this article:  
Hackers Gaining Ground in U.S., Annual Survey Finds
Hackers Gaining Ground in U.S., Annual Survey Finds

By Seth Fitzgerald
May 28, 2014 11:15AM

Bookmark and Share
Hackers are always a step ahead of new security efforts. said Ed Lowery, who leads the Secret Service's cybercrime investigation unit. "Despite substantial investments in cybersecurity technologies, cyber criminals continue to find ways to circumvent these technologies in order to obtain sensitive information that they can monetize," he said.
 



Cybercrime has become one of the most significant threats to American businesses, according to a new survey of 500 executives of businesses, law enforcement services and government agencies. The 12th annual survey of cybercrime found that it continues to grow, with three out of four respondents saying they had detected a security breach in the last year and the average number of intrusions was 135 per organization.

Turning stolen data into money is not difficult, particularly in foreign markets. Since the security breaches can result in hundreds, thousands, or sometimes even millions of credit card numbers or Social Security numbers and other identifying information being compromised, hackers can sell that information cheaply to nefarious customers around the world.

An Increasing Cost

Corporations of all sizes have invested heavily in companywide security, but despite those efforts, cybercrime is only becoming more common, according to the survey, which was sponsored by PricewaterhouseCoopers (PwC), the U.S. Secret Service, the CERT Division of Carnegie Mellon University's Software Engineering Institute and CSO security magazine.

Hackers are always a step ahead of new security protocols and software. said Ed Lowery, who leads the Secret Service's cybercrime investigation efforts.

"Despite substantial investments in cybersecurity technologies, cyber criminals continue to find ways to circumvent these technologies in order to obtain sensitive information that they can monetize," Lowery said. The ability to circumvent expensive security efforts has only resulted in each cyber attack costing businesses larger amounts of money.

Over the past five years, the financial impact of cybercrime has steadily risen, which is bad news for the 75 percent of businesses PwC surveyed that had experienced a security breach in the past 12 months. The 2013 Cost of Cyber Crime Study report from the Ponemon Institute revealed last year that on average, organizations that experience cyber attacks lose $11.56 million every 10 months. Ponemon reported an even greater number of security breaches, with businesses experiencing 122 attacks every week.

Affecting Consumers

Cybercrime may have a direct monetary impact on businesses, but high-profile attacks like those against Target and Neiman Marcus have changed the way that American consumers interact with corporations. Out of all the complaints recorded by the Federal Trade Commission in 2013, identify theft was the most common, showing just how often a security breach can result in consumers losing their peace of mind.

Not all identity theft can be tied to a business that was compromised, but with hundreds of millions of credit cards being put at risk each year because of corporate security issues, businesses contribute to that statistic. Identity theft has topped the FTC's complaint list since 2006, with the number of complaints growing.

When consumer data like credit card numbers and Social Security numbers are compromised in a corporate security breach, consumers are at risk of bank, credit card, and many other types of fraud. In total, U.S. consumers lost $1.6 billion due to these types of fraud in 2013, and that number is only expected to grow as criminals target more businesses and consumers.
 

Tell Us What You Think
Comment:

Name:

Frank Kasper:

Posted: 2014-05-29 @ 6:31am PT
This is a great article and should be read by everybody. People just don't realize how using their cell phones to make purchases can lead to all of their data being stolen. That's why I use Guarded ID which is the best anti-keylogging software on the market today.



Salesforce.com is the market and technology leader in Software-as-a-Service. Its award-winning CRM solution helps 82,400 customers worldwide manage and share business information over the Internet. Experience CRM success. Click here for a FREE 30-day trial.


 Business Briefing
1.   Investor Wants EMC To Spin Off VMware
2.   Schools Buy Million Chromebooks in Q2
3.   Verizon Launches Rewards Program
4.   IRS: Lerner's Hard Drive Destroyed
5.   CEO Pay Scales Can Be Perplexing


advertisement
Apple Digital Book Settlement Set
But company still appealing decision.
Average Rating:
Backlash Stirs Against H-1B Visas
Debate over foreign workers continues.
Average Rating:
Radical.FM's Freemium Biz Model
Online radio startup asks for donations.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
New Web Tracking Technologies Defeat Privacy Protections
Recently developed Web tracking tools are able to circumvent even the best privacy defenses, according to a new study by researchers at Princeton and the University of Leuven in Belgium.
 
Juniper DDoS Solution Aims at High-IQ Networks
In the face of more complex attacks, Juniper Networks is boosting its DDoS Secure solution to help companies mitigate the threats with more effective security intelligence throughout the network fabric.
 
Large-Volume DDoS Attacks Hit Record in 2014
The number of distributed denial-of-service (DDoS) attacks set a record in the first half of 2014, according to a report by Arbor Networks. The number of attacks over 20 GB/sec doubled.
 

Navigation
CRM Daily
Home/Top News | CRM Systems | Customer Service | Business Intelligence | Sales & Marketing | Contact Centers | Customer Data | CRM Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.