In its annual Cost of Cyber Crime study, the Ponemon Institute found that the average annual cost of cyber crime per large company is now $15.4 million in the United States. That figure has increased 19% from last year’s $12.7 million, and presents an 82% jump from the institute’s first such study six years ago. This year, losses ranged from $307,800 to $65,047,302.
Globally, the average annual cost of cybercrime is $7.7 million, an increase of 1.9% from last year. The U.S. sample had the highest total average cost, while the Russian sample reported the lowest, with an average cost of $2.5 million. Germany, Japan, Australia, and Russia experienced a slight decrease in the cost of cyber crime over the past year.
To try to benchmark the complete cost of cyber crime, the Ponemon Institute examines the total cost of responding to incidents, including detection, recovery, investigation and incident-response management. While it is virtually impossible to quantify all of the losses due to reputation damage or business interruption, the researchers did look at after-the-fact expenses intended to minimize the potential loss of business or customers.
Check out more of the study’s findings in the infographic below: