New research by Accenture and the Ponemon Institute indicates that cybercrime is on the rise and that the resulting costs for organizations are increasing. The average number of breaches per organization in 2018 jumped 11% compared to the year before, costing the average firm $13.0 million annually, a $1.4 million increase over 2017.
Malware attacks are the most expensive, accounting for over $2.6 million in average damages, which is 11% higher than in 2017. The costs of attacks by malicious insiders grew by 15% to an average of $1.6 million per business. The relative rise in costs was the highest for ransomware attacks, with average damages totaling $645,000 per organization, a 21% increase.
Read more: For enterprises, malware is the most expensive type of attack
