The Post Breach Boom

A basic requirement for security is that systems be patched and the security products like antivirus be updated as frequently as possible. However, there are practical reasons which limit the application of updates to production systems. This is often the reason why the most active attacks are the ones which have been known for many months.

A new report from the Ponemon Institute polled 3,529 IT and IT security professionals in the U.S., Canada, UK, Australia, Brazil, Japan, Singapore and United Arab Emirates, to understand the steps they are taking in the aftermath of malicious and non-malicious data breaches. Here are some highlights:

On average, it is taking companies nearly three months (80 days) to discover a malicious breach and then more than four months (123 days) to resolve it.

    • One third of malicious breaches are not being caught by any of the companies’ defenses – they are instead discovered when companies are notified by a third party, either law enforcement, a partner, customer or other party – or discovered by accident. Meanwhile, more than one third of non-malicious breaches (34 percent) are discovered accidentally.
    • Nearly half of malicious breaches (42 percent) targeted applications and more than one third (36 percent) targeted user accounts.
    • On average, malicious breaches ($840,000) are significantly more costly than non-malicious data breaches ($470,000). For non-malicious breaches, lost reputation, brand value and image were reported as the most serious consequences by participants. For malicious breaches, organizations suffered lost time and productivity followed by loss of reputation.

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