The Jaw-Dropping Financial Impact of Cyber Threats

December, 07, 2015 Franklyn Jones

If you're a CISO, CFO, or CIO, you better sit down for this.

According to recent research published by Markets and Markets, you and your peers in organizations worldwide are collectively spending $105 billion on various cyber security products and services to defend yourselves against potential cyber attacks on your businesses. By the way, that number is projected to increase to $170 billion in just 5 more years.

Hang on, we're just getting started.

According to research published last year by IDC, organizations collectively spent another $491 billion recovering from successful cyber attacks - which suggests that the initial $105 billion investments noted above are not so effective.

But wait, there's more.

To avoid paying another outrageous bill of $491 billion on breach recovery, a new market has emerged in recent years – cyber insurance to protect your business in the (likely) event of a successful attack. This market is just getting ramped up, but is projected to grow to $10 billion by 2020.

As if all of this is not enough, Moody's Corporation has just decided that if your company is not secure, your credit rating will suffer. Check out this excerpt from a recent article in Bank Info Security:

Credit rating agency Moody's Corp. warns that cyber defenses as well as breach detection, prevention and response will be higher priorities in its analysis of the creditworthiness of companies across all sectors, including healthcare and financial services.

The key word in the paragraph above is "prevention," and the key requirement is to find a way to completely shut down critical attack vectors and fully prevent successful malware attacks.

Pipe dream? No, not if you're willing to think differently. For example, isolation technology deployed at the Internet gateway has been proven to prevent all web-based malware attacks that would normally infect endpoint devices through web browsers. And browsers happen to be the #1 attack vector used by cyber criminals, according to research from the Ponemon Institute.

We invite you to learn more about our Isla Malware Isolation System, which uses isolation technology to securely render and safely transform all web content before it enters your network.

We can't guarantee a higher credit rating for you, but we can help you eliminate web malware attacks.

Franklyn Jones, CMO, Spikes Security

 

Keep informed.