Cyber attacks, losses on rise worldwide

Sep 13, 2005

Intrusions into computer systems and resulting financial losses are both on the rise, according to a survey released Tuesday.

CIO Magazine and PricewaterhouseCoopers polled 8,200 IT security executives around the world and determined that security-related events and events that resulted in financial losses were both up around 22 percent in the past year.

Hackers were responsible for the majority of cyber intrusions, followed by disgruntled current and former employees.

The response has been an overall hike in corporate security spending from 11 percent of company revenue to 13 percent last year.

A number of companies, however, remain relatively unprotected, with only 37 percent having a formal IT security plan in place.

Copyright 2005 by United Press International

Explore further: Movement builds to ensure privacy for Internet users

add to favorites email to friend print save as pdf

Related Stories

Protecting infrastructure with smarter CPS

Sep 16, 2014

Security of IT networks is continually being improved to protect against malicious hackers. Yet when IT networks interface with infrastructures such as water and electric systems to provide monitoring and control capabilities, ...

Recommended for you

What's PayPal's first solo move?

49 minutes ago

PayPal's impending split from long-time partner eBay Inc. will ratchet up its appeal to online retail competitors such as Amazon.com and give it the freedom to aggressively take on new mobile pay challeng ...

Microsoft skips Windows 9 to emphasize advances

2 hours ago

The next version of Microsoft's flagship operating system will be called Windows 10, as the company skips version 9 to emphasize advances it is making toward a world centered on mobile devices and Internet ...

User comments : 0