Cybercrime - its consequences & how to protect yourself
￼Price Waterhouse Cooper’s (PWC) 2011 report into security breaches noted that 93% of large organisations and 76% of small business have had a security breach in 2011, this is up from 35% of companies overall in 2008.* PWC advised in their report that the average cost to a small business is £15,000 – £20,000 and between £110,000 – £250,000 for a large organisation.
In this White Paper the Oval Group shares its view on the cybercrime challenges facing organizations and how an integrated approach to security management can lever significant insurance protection.
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The global cost of Cyber Crime is estimated by the Center for Strategic and International Studies to be up to $575bn in it’s report entitled “Net Losses:Estimating the Global Cost of Cybercrime”, sponsored by McAfee.
The report tries to assess the impact on the global economy by looking at the range of costs and losses associated with Cyber Crime a create an approximate total.