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RESEARCH INSIDER THREAT • US organisations lost 7 per cent of their annual revenues to fraud committed by employees between 2006 and 2008, for an estimated total cost of $US994 billion in losses. (Association of Certified Fraud Examiners, 2008 Report to the Nation on Occupational Fraud & Abuse) DATA BREACHES AND DATA LOSS • The average cost per compromised record is $US202. • The average cost of a data breach to an organisation is $US6.65 million. • Lost business and customer churn account for nearly 70 per cent of the costs of a data breach. • Healthcare and financial services organisations lose the most customers following a data breach. (Ponemon Institute) • Seventy-four per cent of data breaches resulted from external sources; 20 per cent were caused by insiders. • Thirty-eight per cent of data breaches involved the installation of malware on a system or network. • Cardholder data was compromised in 81 per cent of breaches; personally identifiable information was compromised in 36 per cent; and intellectual property in 13 per cent. • The value associated with selling credit card data has dropped from between $US10 and $US16 per record in mid-2007 to less than $US0.50 per record today. (Verizon Business) IDENTITY THEFT • One in five online consumers has been a victim of cybercrime in the last two years to the tune of an estimated US$8 billion. • 1.2 million consumers have had to replace their computers over the past two years due to software infections. (Consumer Reports National Research Center, Consumer Reports State of the Net 2009 Report) • Eighty-five per cent of respondents in the 2009 Consumer Awareness Survey expressed concern about the safety of sending information over the internet. • Fifty-nine per cent of respondents expressed a need for improvement in the protection of the data they submit over websites. (Identify Theft Resource Center) Are you ready for some scary statistics? RSA, the security division of EMC, has just released its third quarter Security Statistics Review. Here are some of the more frightening findings. • Internet fraud increased 33 per cent in 2008 over 2007. • Fraud losses in the US reached a record high in 2008. (Internet Fraud Complaint Center [FBI], 2008 Internet Crime Report) • Online banking fraud losses totalled £52.5 million in 2008 – a 132 per cent increase from 2007 losses. (APACS [UK Payment Card Association]) 32 RISK August 2009
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