Kaspersky: Businesses pay premium for cybersecurity breaches

Kaspersky: Businesses pay premium for cybersecurity breaches

Kaspersky: Businesses pay premium for cybersecurity breaches

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Businesses pay a significantly higher premium to recover from a cyber-attack if virtual infrastructure is affected during the incident, a new survey conducted by Kaspersky Lab, a cybersecurity company, in conjunction with B2B International, has revealed.
One of the key findings of the 2015 Security of Virtual Infrastructure worldwide survey of 5,500 companies is that enterprises pay more than $800,000 on average to recover from a security breach, which is twice as much compared to incidents involving only physical infrastructure.
According to the survey, Small and Medium-sized Businesses (SMBs) experience the same pattern as large enterprises. On average, SMBs reported damage of more than $26,000 for an attack on their physical infrastructure. The involvement of virtual infrastructure in a security breach; however, drives the cost up to nearly $60,000.

[blockquote right=”pull-right” cite=”Kaspersky”]“One of the key findings of the 2015 Security of Virtual Infrastructure worldwide survey of 5,500 companies is that enterprises pay more than $800,000 on average to recover from a security breach, which is twice as much compared to incidents involving only physical infrastructure.” [/blockquote]

Kaspersky: Businesses pay premium for cybersecurity breaches
A cross section of participants at the Technology Times Outlook Review of Nigeria Cybercrimes Act 2015, held Friday in Lagos to refocus issues of cybersecurity and allied issues.
The main reason behind the additional cost for a security breach affecting virtual environments, according to the survey, is that a majority of businesses use virtual infrastructure for their most important operations. In fact, 62% of companies use virtualisation in some form.
As a result, many organisations are likely to entrust virtual environments with the most critical business processes. While an attack on physical nodes leads to the temporary loss of access to business critical information in 36% of incidents reported, this rises to 66% when a breach affects virtual servers and desktops.
Attacks affecting virtual environments also typically require additional budget on third-party expertise. Businesses have to request help not only from IT consultants, but also lawyers, risk management experts and others.
An incorrect perception of the threat landscape is an additional element that increases the cost of recovery in virtual infrastructures. The Kaspersky Lab survey found that 42% of businesses believe that security risks in virtual environments are significantly lower than in ‘physical’ environments.
In addition, 45% of companies reported that security management in virtual infrastructures is perceived as a problem and yet only 27% of businesses have deployed a security solution specifically designed for virtual environments.
“Businesses expect that going virtual will drive down their IT spend and streamline their infrastructure. However, the survey results show us that if there is not enough attention paid to security matters in the virtual environment, expenses may exceed the benefit. Our view is that businesses should use customized, virtual-aware security solutions with centralised management and reporting. The solution should have a low impact on resources, a high detection rate and the ability to spot suspicious activity right away,” Matvey Voytov, Corporate Products Group Manager, Kaspersky Lab says.
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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929