A new survey has estimated that British businesses spend around £34bn a year ($52.5bn) protecting the country from cyberattacks,
Cyber attacks against Industrial Control Systems pose a risk to power plants and other critical infrastructure – and action is needed to ensure nations stay safe, the EU’s cyber security agency ENISA said today.
The costs of cybercrime have continued to rise for victims, for the fourth consecutive year, according to a survey conducted by the Ponemon Institute. Each cyberattack now costs companies nearly $1 million to resolve, on average – and the annualized cost to a sample of U.S. organizations was $11.56 million.
A top internet security official in China has said that his organization has “mountains of data” on U.S. cyber attacks against the country. Huang Chengqing, the director of the National Computer Network Emergency Response Technical Team Coordination Center of China (CNCERT), made the comments in the state-run China Daily newspaper, calling for greater cooperation between the two states on hacking.
Silicon Valley technology firms should take the lead in defending the private sector against cyber attacks, says Paul Rosenzweig, a former Department of Homeland Security official, now founder of Red Branch Consulting.
Cyber attacks on America will continue to escalate, according to National Security Director Keith Alexander, speaking to the Reuters Cybersecurity Summit in Washington. “Disruptive and destructive attacks on our country will get worse,” said Alexander, the leading U.S. general in charge of the nation’s cybersecurity. “Mark my words, it will get worse.”