BrandProtect and the Ponemon Institute have teamed up to create a cross-industry study aimed at understanding companies’ ability to analyze and mitigate online incidents and cyber attacks that are beyond the traditional security perimeter. The 505 enterprises and financial institutions surveyed experienced an average of more than one cyber attack each month and spent an average of almost $3.5 million to deal with the attacks. 

Participants in this study agree external threats put companies’ ability to continue their operations in peril.

The following are four important takeaways from this study.

  1. Security processes for Internet and social media monitoring are nonexistent, partially deployed or inconsistently deployed, according to 79 percent of respondents.
  2. The protection of intellectual property from external threats is essential or very important to the sustainability of their companies, according to 59 percent of respondents.
  3. External attacks are frequent and the financial costs of external attacks are significant. The 505 enterprises and financial institutions surveyed experienced an average of more than one cyber attack each month and spent an average of almost $3.5 million to deal with the attack. 
  4. A lack of necessary tools and resources diminishes the ability to respond to external threats. Sixty-one percent of respondents do not believe their company has the tools to mitigate external threats. The lack of tools also affects the ability to monitor, analyze and understand external threats. Specifically, 58 percent of respondents do not believe their companies have tools to monitor external threats and 59 percent of respondents say they do not have the tools and resources necessary to analyze and understand external threats.

Register today to download the Executive Summary of the 2016 Ponemon Report

Larry Ponemon will lead a free webcast detailing the research and the research results on Thursday July 21st at 1:00 p.m. ET.   Registration for this webcast is now open, but it is filling fast. Click here to register.  Attendees will receive the complete report. 

 

Download the Executive Summary