Cybercrime is costing everyone – businesses and individuals alike. Healthcare Informatics brought this news to us in their article, “Report: Healthcare Organizations Spend $12.5 Million a Year on Cybersecurity?

On average, that comes to $11.7 million a year for businesses, which is a 23 percent increase from $9.5 million in cybercrime-related spending last year. However, many organizations may be spending too much on the wrong technologies.

A recent study report found that security intelligence systems (67 percent) and advanced identity and access governance (63 percent) are the top two most widely deployed enabling security technologies across the enterprise.

Cyber crime is expensive and the damage is far-reaching. This includes damage and destruction of data, stolen money, lost productivity, theft of intellectual property, theft of personal and financial data, embezzlement, fraud, reputational harm, and covering the costs of forensic investigation and the restoration and deletion of hacked data and systems.

Melody K. Smith

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