Australian organisations giving up more revenue to cybercrime

October 16, 2015

The average annual cost of cyber crime for an Australian organisation has increased by 13 per cent to $4.9 million, according to HP’s sixth annual global study on cybercrime.

Conducted by the Ponemon Institute and sponsored by HP Enterprise Security, the 2015 Cost of Cyber Crime Study quantified the annual cost of cybercrime for companies across seven countries including Australia, the US, the UK, Japan, Germany, Brazil and the Russian Federation.

The Australian results also revealed the time it takes to resolve a cyber attack has increased to 31 days, with the average cost incurred during that period being $419, 542 – representing a 47 per cent increase from last year’s estimated cost.

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