Global security breaches up 48 percent for 2014
Friday 24 October 2014 | 02:44 PM CET
• • • • The number of reported security incidents rose 48% to 42.8 million for 2014, the equivalent of 117,339 attacks per day, a recent survey shows. According to the Global State of Information Security Survey 2015, a worldwide report by CIO, CSO, and PwC, the compound annual growth rate of detected security incidents has increased 66% year-over-year since 2009. Globally, the estimated reported average financial loss from cybersecurity incidents was USD 2.7 million, a 34% increase over 2013. Big losses have been more common in 2014 as organizations reporting financial hits in excess of USD 20 million rose 92%. Global information security budgets actually decreased 4% when compared with 2013. Security spending as a percentage of IT budget has remained stalled at 4% or less for the past five years. The survey reveals that larger organizations (with gross annual revenues of USD 1 billion or more) detected 44% more incidents in 2014. Comparatively, medium-sized organizations (with revenues of USD 100 million to USD 1 billion) witnessed a 64% increase in the number of incidents detected. Findings also indicate that high-profile attacks by nation-states, organized crime, and competitors are among the least frequent incidents, yet are among the fastest-growing cyber threats. For 2014, respondents who reported a compromise by nation-states increased 86%—and these incidents are also most likely under-reported. The survey also found a 64% increase in security incidents attributed to competitors, some of whom may be backed by nation-states.