Survey: Average loss from cybercrime drops

Virus attacks are still the most costly

By Linda Rosencrance

July 29, 2005 12:00 PM ET

Computerworld - Although the average financial loss due to cybercrime is down, virus attacks continue to cost companies the most money, according to the Computer Security Institute (CSI) in San Francisco.
Earlier this month CSI released the results of its 10th annual Computer Crime and Security Survey, which was conducted in conjunction with the the FBI's Computer Intrusion Squad in San Francisco. The survey is based on responses from 700 computer security practitioners at U.S. corporations, government agencies, financial institutions, medical institutions and universities.
"The findings of the survey confirm that the threat from computer crime and other information security breaches is real," according to the CSI.
According to the survey:

The dollar amount of financial losses resulting from security breaches is decreasing, with an average loss of $204,000 per respondent -- down 61% from last year's average loss of $526,000.

Virus attacks continue to cause the greatest financial losses, accounting for 32% of all reported cybercrime losses.

The number of unauthorized access cases showed a dramatic increase, replacing denial-of-service attacks as the second-biggest cause of financial loss. Such cases accounted for 24% of all reported losses.

Theft of proprietary information also increased significantly. The average loss per respondent was more than double that of last year.

The percentage of organizations reporting computer intrusions to law enforcement is still declining. The key reason cited for not reporting intrusions to law enforcement: concern for negative publicity.

"Individual users are more exposed to computer crime than ever, due to the growth in identity theft schemes," said CSI Director Chris Keating in the statement. "With the press and the public paying more and more attention as identity theft becomes a vital societal issue, we can't help but note the shift in the survey results toward more financial damage due to theft of sensitive company data."
The results of the survey underscores the need for enterprise networks to be properly protected, Keating said.

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