VIEW THE INFOGRAPHIC
As cybercrime evolves, business leaders are faced with an expanding threat landscape from malicious nation-states, indirect supply chain attacks and information threats. Organizations are introducing new technologies to drive innovation and growth faster than they can be secured. Humans are increasingly targeted as the weakest link in cyber defenses.
Now in its ninth year, the Cost of Cybercrime Study combines research across 11 countries in 16 industries. We interviewed 2,647 senior leaders from 355 companies and drew on the experience and expertise of the Accenture Security professionals to examine the economic impact of cyberattacks.
Our research found that cybercrime is increasing, takes more time to resolve and is more expensive for organizations. But we also found that by improving cybersecurity protection, cybercrime costs can be reduced and new revenue opportunities realized. Highlights from our findings show:
- The expanding threat landscape and new business innovation is leading to an increase in cyberattacks—the average number of security breaches in the last year grew by 11 percent from 130 to 145.
- Organizations spend more than ever to deal with the costs and consequences of more sophisticated attacks— the average cost of cybercrime for an organization increased US$1.4 million to US$13.0 million.
- Improving cybersecurity protection can decrease the cost of cybercrime and open up new revenue opportunities—we calculate a total value at risk of $US5.2 trillion globally over the next five years.
- By prioritizing technologies that improve cybersecurity protection, organizations can reduce the consequences of cybercrime and unlock future economic value as higher levels of trust encourage more business from customers.