{"id":2718,"date":"2019-07-19T13:36:06","date_gmt":"2019-07-19T17:36:06","guid":{"rendered":"https:\/\/solutionsreview.com\/security-information-event-management\/?p=2718"},"modified":"2019-09-26T10:30:19","modified_gmt":"2019-09-26T14:30:19","slug":"cyber-criminals-cost-4-7-million-in-annual-losses","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/security-information-event-management\/cyber-criminals-cost-4-7-million-in-annual-losses\/","title":{"rendered":"Cyber Criminals Cost $4.7 Million in Annual Losses"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-2607\" src=\"https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod.jpg\" alt=\"Cyber Criminals Cost $4.7 Million in Annual Losses\" width=\"800\" height=\"400\" srcset=\"https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod.jpg 800w, https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod-300x150.jpg 300w, https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod-768x384.jpg 768w, https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod-540x270.jpg 540w, https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod-162x81.jpg 162w, https:\/\/solutionsreview.com\/security-information-event-management\/files\/2019\/06\/fileless-malware-mod-360x180.jpg 360w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">A recent global study by <a href=\"https:\/\/www.willistowerswatson.com\/en-US\/News\/2019\/07\/more-than-one-in-10-firms-losing-over-10-million-due-to-cyberattacks\" target=\"_blank\" rel=\"noopener noreferrer\">Willis Towers Watson and ESI ThoughtLab<\/a> explores the dangers posed to enterprises by cyber criminals. On average, firms lose $4.7 million to cyber criminals annually. Additionally, 10% of firms lose more than $10 million due to cyber attacks.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Moreover, the percentage of enterprises suffering from cyber criminals\u2019 attack tactics increased from 57% to 71%.\u00a0<\/span><\/p>\n<div class=\"box box3\">Our <a href=\"https:\/\/solutionsreview.com\/security-information-event-management\/siem-buyers-guide-security-information-and-event-management\/\" target=\"_blank\" rel=\"noopener noreferrer\">SIEM Buyer&#8217;s Guide<\/a> helps you evaluate the best solution for your use case and features profiles of the leading solution providers and their key capabilities.<\/div>\n<h3 style=\"text-align: justify\"><b>Cyber Criminals: Tactics and Vulnerabilities<\/b><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Indeed, the study by Willis Towers Watson and ESI ThoughtLab only confirms the recent slate of studies indicating the dangers posed by cyber criminals.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">According to the <\/span><a href=\"https:\/\/solutionsreview.com\/endpoint-security\/major-data-breach-report-reveals-key-perimeter-weaknesses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">Verizon 2019 Data Breach Investigations Report<\/span><\/a><span style=\"font-weight: 400\">:<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Ransomware constitutes almost 24% of security incidents.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">External threat actors contribute 69% of all breaches.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Insider threats contribute 34% of breaches.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">Meanwhile, according to the Grand Theft Data II \u2013The Drivers and Shifting State of Data Breaches report by <\/span><a href=\"https:\/\/solutionsreview.com\/endpoint-security\/61-of-it-professionals-experienced-serious-breach-mcafee\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400\">McAfee<\/span><\/a><span style=\"font-weight: 400\">:\u00a0<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">61% of IT professional respondents said they experienced a data breach at their current enterprise.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Nearly three-fourths of data breaches in 2018 required public disclosure.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Malware-driven theft increased from 23% in 2015 to 29% in 2018.<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">Also, 52% of all breaches or leakages involve enterprise IT departments or security departments.<\/span><\/li>\n<\/ul>\n<h3 style=\"text-align: justify\"><b>What Does This Mean For SIEM?\u00a0<\/b><\/h3>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">The growing average costs of enterprise data breaches directly correlates with increased hacker dwell times. In fact, the longer hackers can inhabit your network undetected, the more damage they can wreak. Also, the longer they dwell, the more serious the consequences regarding compliance mandates and lost customer trust.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">However, the issue with dwelling threats is they could hypothetically dwell anywhere in your enterprise infrastructure. As enterprises increasingly migrate to the cloud or embrace hybrid environments, maintaining visibility over the entire network proves increasingly challenging.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">If your enterprise struggles with network visibility, you should consider deploying a next-generation SIEM solution. SIEM allows you to compile logs from the most sensitive network areas, normalize them, and analyzes them for security correlations. Additionally, if it detects a potential security incident, it can alert your IT team, shortening investigation and remediation times.\u00a0<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-weight: 400\">If you would like to learn more about SIEM and what it can offer your enterprise, you should check out our <a href=\"https:\/\/solutionsreview.com\/security-information-event-management\/siem-buyers-guide-security-information-and-event-management\/\" target=\"_blank\" rel=\"noopener noreferrer\">Buyer\u2019s Guide<\/a>. Or you can check out our <a href=\"https:\/\/solutionsreview.com\/security-information-event-management\/security-information-event-management-vendor-map\/\" target=\"_blank\" rel=\"noopener noreferrer\">SIEM Vendor Map<\/a>!<\/span><\/p>\n<p><span style=\"font-weight: 400\"><br \/>Widget not in any sidebars<br \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent global study by Willis Towers Watson and ESI ThoughtLab explores the dangers posed to enterprises by cyber criminals. On average, firms lose $4.7 million to cyber criminals annually. Additionally, 10% of firms lose more than $10 million due to cyber attacks.\u00a0 Moreover, the percentage of enterprises suffering from cyber criminals\u2019 attack tactics increased [&hellip;]<\/p>\n","protected":false},"author":41,"featured_media":2607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1,3],"tags":[56,95,145,112,86,212,48,21,57,22],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cyber Criminals Cost $4.7 Million in Annual Losses<\/title>\n<meta name=\"description\" content=\"A recent global study by Willis Towers Watson and ESI ThoughtLab explores the dangers posed to enterprises by cyber criminals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/solutionsreview.com\/security-information-event-management\/cyber-criminals-cost-4-7-million-in-annual-losses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cyber Criminals Cost $4.7 Million in Annual Losses\" \/>\n<meta property=\"og:description\" content=\"A recent global study by Willis Towers Watson and ESI ThoughtLab explores the dangers posed to enterprises by cyber criminals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/solutionsreview.com\/security-information-event-management\/cyber-criminals-cost-4-7-million-in-annual-losses\/\" \/>\n<meta property=\"og:site_name\" content=\"Best Information Security SIEM Tools, Software, Solutions &amp; 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