White House: 57 with 109 twice cost cyber attacks

Referring to a of the Council of Economic Advisers (CEA), the White House announced (PDF) on Friday that cyberattacks (cyber attacks) cost the US economy from $ 57 billion to $ 109 billion in 2016.

The estimate includes damages caused by various activities, such as DDoS attacks, breaches , ransoms, damage to infrastructure, loss of working hours, of private data, intellectual property and sensitive financial and strategic information.attacks

Previous studies have shown that most cyber incidents target online businesses, affecting their operations, mainly due to delays in customer-company transactions.

The lack of appropriate measures βοήθησε πολύ τους επιτιθέμενους, αλλά όχι τόσο όσο η μυστικοπάθεια των εταιρειών, που επιλέγουν να μην αναφέρουν τα hacks και να μοιραστούν τις πληροφορίες με ασφαλείας, και άλλες that are at risk.

The CEA report considers that this is a critical factor in today's market, mainly because most companies tend to use the same tools in their infrastructure – which often contain vulnerabilities.

Disclosure of cyberattack details will not only help victims fight the attackers but also speed up the development of cyber security measures, according to a White House statement.

Nevertheless, the CEA report expects things to get better, as companies have identified the rising costs of dealing with cyberattacks, so they have started adding more money to their security budgets.

Morgan Stanley estimates that cyber spending will double from $ 56 billion in 2015 to $ 128 billion by 2020.

The amount will probably not be enough if companies do not change their tactics in dealing with crises. Of course, it is a bit difficult to believe that companies that are victims of attacks will come out to complain about what they have suffered, but in view of the above, it is probably necessary, especially among experts.

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Written by giorgos

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