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Tag: Costs

The True Cost of Ransomware
March 13, 2024
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| Short news
B2B Cyber ​​Security ShortNews

A cybersecurity solutions provider announced the results of its third annual ransomware study. The research carried out is intended to provide information about the costs and effects of ransomware on companies. What it turns out: Ransomware attacks are becoming more and more frequent, more effective and more sophisticated - but paying ransoms is definitely not worth it for companies: 63% of the companies surveyed in Germany were affected by more than one ransomware attack in the last 24 months. 31% of German companies that were attacked did not have a backup copy of their files and therefore paid the ransom. Almost 80%...

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Cyber ​​attacks cost over 5 million euros annually
March 5, 2024
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| PR News, Stories
Cyber ​​attacks cost over 5 million euros annually

Cyber ​​attacks are increasing. Last year, 71 percent of German companies fell victim to ransomware. 59 percent paid ransoms. 53 percent fear more hacker attacks through generative AI technologies. Barracuda Networks has released its Cybernomics 101 Report, which analyzes the financial impact and profit motives behind cyberattacks. The research found that for German companies, the average annual cost of responding to attacks is around 5,7 million euros ($6,2 million). Ransomware attacks on over 70% of German companies The report also raises alarm as hackers explore how to use generative AI technology (GenAI)...

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Cost-benefit analysis of IT security 
11 November 2022
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| Bitdefender, Stories

IT security has a problem: it doesn't make any profits. For many it is still too expensive. However, the benefits of cyber defense can be demonstrated by a cost-benefit analysis with an IT security platform. There are five factors that can do this. Without a doubt, cyber defense causes additional costs beyond the pure license price. Because security software is not only to be obtained and installed quickly. Overtime that takes up time resources can never be ruled out. Its benefits often only become apparent when IT teams are willing and able to work with it. Security must be resource intensive….

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Ransomware attacks: failing to pay ransom demands
September 12, 2022
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Ransomware attacks: failing to pay ransom demands

The study "Ransomware: The True Cost to Business 2022" shows that companies in Germany paid an average of almost half a million euros in ransom. But only just under 30 percent received all of their data and systems back – a bad deal. It sounds like a fairy tale: Maastricht University is getting back the ransom it paid in a ransomware attack in 2019. And because the criminals' account, which has since been confiscated, was filled with cryptocurrency, the university now also receives Bitcoins - which are now worth many times more than they were back then. But this stroke of luck should...

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Cyber ​​attacks on industry cost companies millions
June 23, 2022
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| PR News
Cyber ​​attacks on industry cost companies millions

A study by Trend Micro examines the effects of cyber attacks on industrial systems. For German companies whose OT and control systems were affected by attacks, the average financial damage amounts to around 2,9 million euros. A new study by Trend Micro, one of the world's leading providers of cyber security solutions, shows that 90 percent of German companies in the power, oil and gas supply and manufacturing sectors have been affected by cyber attacks in the last twelve months. The average damage caused by these attacks was 2,9 million euros. After the cyber attack, the defense...

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Expensive cryptomining attacks on cloud infrastructures
11 April 2022
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Expensive cryptomining attacks on cloud infrastructures

Trend Micro, one of the world's leading providers of cybersecurity solutions, publishes a new research report on cryptomining. The report details how cybercriminals are compromising and misusing corporate cloud infrastructures. Again and again, different groups even fight for control of the affected systems. The report shows that threat actors are increasingly looking for and exploiting vulnerable entities. Among other things, they use brute-forcing of SecureShell (SSH) credentials to compromise cloud resources for cryptocurrency mining. Victims often exhibit outdated cloud software in the cloud environment, lack of cloud security hygiene, or insufficient knowledge of the…

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Third-party security incidents cost businesses a lot of money
31 October 2021
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| Kaspersky, PR News
Third-party security incidents cost businesses a lot of money

Companies are increasingly affected by cybersecurity incidents at suppliers with whom they exchange data, as the latest IT Security Economics Report from Kaspersky shows. And that can be expensive, as current figures show. The average financial impact of an incident for a large company in Europe last year was $ XNUMX million, making it the most costly type of incident. Business data is distributed in practice Business data is usually distributed over several third parties, including service providers, partners, suppliers and subsidiaries - which is why cyber criminals are increasingly attacking precisely these ...

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Data breach: transparency benefits
23 December 2020
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| Stories
Data breach breach

A global Kaspersky survey shows: SMEs suffer 40 percent fewer losses through proactive communication in the event of a data protection breach. Large companies make 28 percent less loss through voluntary reporting. Only 46 percent of companies proactively detect data breaches. 24 percent of the disguised cases leak to the media. Organizations that deal quickly and transparently with data breaches suffer less damage, both economically and in terms of their reputation. According to a new Kaspersky report, small and medium-sized enterprises (SMBs) that voluntarily inform their stakeholders and the public about a data breach take an average of 40 ...

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