U.S. firms are losing millions of dollars annually to cybercrime, even as the cost to hackers themselves falls.
According to a new report by Hewlett Packard and the U.S.-based Ponemon Institute of Cyber Crime, hacking attacks cost the average American firm $15.4 million per year, double the global average of $7.7 million.
In a survey of more than 2,000 executives and employees in 250 organizations worldwide, the report’s authors found that cybercrime affected all industries and all markets.
The most costly cybercrimes were those carried out by malicious insiders, DDoS and web-based attacks. (DDoS, or a Denial of Service Attack, is a way to take down a website by overwhelming it with traffic.)