PwC says costs of in­for­ma­tion se­cu­rity breaches dou­bled

SP's MAI - - INTERNAL SECURITY -

The 2014 In­for­ma­tion Se­cu­rity Breaches Sur­vey (ISBS) found that 81 per cent of large or­gan­i­sa­tions suf­fered a se­cu­rity breach, down from 86 per cent a year ago, while 60 per cent of small businesses re­ported a breach, down from 64 per cent in 2013.

More businesses (59 per cent) than pre­vi­ously said they are con­fi­dent that they have the skills re­quired within their or­gan­i­sa­tions to de­tect, pre­vent and man­age in­for­ma­tion se­cu­rity breaches com­pared with last year (53 per cent).

How­ever, the aver­age cost of in­ci­dents rose sig­nif­i­cantly for the third con­sec­u­tive year. For small or­gan­i­sa­tions the worst breaches cost be­tween £65,000 and £1,15,000 on aver­age and for large or­gan­i­sa­tions be­tween £6,00,000 and £1.15 mil­lion.

Andrew Miller, cy­ber se­cu­rity di­rec­tor at PwC, said: “Breaches are be­com­ing more so­phis­ti­cated and their im­pact more dam­ag­ing. Given the dy­namic na­ture of the risk, boards need to be re­view­ing threats and vul­ner­a­bil­i­ties on a reg­u­lar ba­sis. Or­gan­i­sa­tions also need to de­velop the skills and ca­pa­bil­ity to un­der­stand how the risk could im­pact their or­gan­i­sa­tion and what strate­gic re­sponse is re­quired.”

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