Newsletters
Customer Relationship Management News NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
Home CRM Systems Customer Service Contact Centers Business Intelligence More Topics...
APC Free White Paper
Optimize your network investment &
Enter to win a Samsung Galaxy Note

www.apc.com
Network Security
Next Generation Data Center Is Here!
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.



APC has an established a reputation for solid products that virtually pay for themselves upon installation. Who has time to spend worrying about system downtime? APC makes it easy for you to focus on business growth instead of business downtime with reliable data center systems and IT solutions. Learn more here.


 Network Security
1.   Retailers Hacked by New Malware
2.   IBM Beefs Up Identity Intelligence
3.   USB Security Flaw Uncovered
4.   Tor Internet Privacy Service Breached
5.   Canada Says China Hacked Gov't


advertisement
IBM Beefs Up Identity Intelligence
To offer biz better security products.
Average Rating:
Tor Internet Privacy Service Breached
Users should assume they're affected.
Average Rating:
Tor Working To Fix Security Exploit
Bug reportedly reveals ID of users
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Navigation
CRM Daily
Home/Top News | CRM Systems | Customer Service | Contact Centers | Business Intelligence | Sales & Marketing | 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.