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The cost to companies from malware and “malicious insider”-related cyberattacks jumped 12 percent in 2018 and accounted for one-third of all cyberattack costs, according to new research published today by Accenture and the Ponemon Institute.
Based on interviews with more than 2,600 security and information technology (IT) professionals at 355 organizations worldwide, Accenture’s and Ponemon Institute’s study found that the cost to companies due to malware increased 11 percent, to more than US$2.6 million per company, on average, and the cost due to malicious insiders — defined as employees, temporary staff, contractors and business partners — jumped 15 percent, to US$1.6 million per organization, on average.
Together these two types of cyberattacks accounted for one-third of the total US$13.0 million cost to companies, on average, from cybercrime in 2018, an increase of US$1.3 million in the past year. Similarly, the cost to companies from phishing and from social engineering increased to US$1.4 million per organization, on average.
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