Global security breaches up 48 percent for 2014 Friday 24 October 2014 | 02:44 PM CET
Oct 30, 2014Global security breaches up 48 percent for 2014
Friday 24 October 2014 | 02:44 PM CET
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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.