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The Cost/Loss Of Cybersecurity

Pathlock
June 9, 2016

The Cost/Loss Of Cybersecurity

Cybercrimes continue to be very costly for organizations. Ponemon research found that the mean annualized cost for 58 benchmarked organizations in 2015 is $15 million per year. Last year’s mean cost per benchmarked organization was $12.7 million, a 19 percent increase in mean value. The net increase over the past six years in the cost of cyber crime is 82 percent. Organizations lack the resources, budget and expertise to detect and prevent persistent and changing attack strategies, both external and internal to the enterprise. According to PwC’s recent Global State of Information Security® Survey 2016, conducted in partnership with CIO and CSO, businesses worldwide saw a 38% year-over-year rise in detected security incidents in 2015, and cyber-theft of corporate intellectual property by 56%. It’s obvious from this data that the current approach organizations are taking for cybersecurity is broken and requires some new thinking. A very interesting statistic in the PwC research is that 59% of survey respondents are leveraging big data security analytics to model and monitor for cybersecurity threats, respond to incidents, and conduct audits and reviews to understand how and when data is used, and by whom. This big data security analytics approach will shift the focus of cybersecurity from traditional perimeter-based defenses based on SIEM data to enabling an organization to leverage real-time information across the network, applications, devices, users and process transaction to detect and prevent cybersecurity incidents. Pathlock Technologies is one of the companies that is leading this change in approach, with the ability to implement cybersecurity policy detection and prevention and remediation capabilities that spans across existing DLP, IDP, IDM, SIEM and eGRC technologies as well as across compliance control requirements and industry best practices mandates such as NIST, FISMA, NERC/FERC, PCI, SOX, HIPAA, ISO and more. Click here to learn more about how Pathlock Technologies can help with your cybersecurity initiative.