Business Technology

There are now 117,339 cyber attacks per day

1 min read

30 September 2014

The number of information security incidents around the world rose 48 per cent to 42.8m, the equivalent of 117,339 attacks per day.

Alongside these figures, found by PwC’s ‘The Global State of Information Security® Survey 2015‘, it was also suggested that the estimated average financial loss from cybersecurity incidents was $2.7m (£1.67m) – a 34 per cent increase over 2013. 

Insiders have become the most-cited culprits of cybercrime – but in many cases, they unwittingly compromise data through loss of mobile devices or targeted phishing schemes. Respondents said incidents caused by current employees increased ten per cent, while those attributed to current and former service providers, consultants and contractors rose 15 per cent and 17 per cent respectively. 

Meanwhile, high profile attacks by nation-states, organised crime and competitors are among the least frequent incidents, yet the fastest-growing cyber threats. This year, respondents who reported a cyber-attack by nation-states increased 86 per cent – and those incidents are also most likely under-reported. 

The survey also found a striking 64 per cent increase in incidents attributed to competitors.

But despite elevated concerns, information security budgets actually decreased by four per cent and has remained stalled at this number for the past five years.

“Strategic security spending demands that businesses identify and invest in cybersecurity practices that are most relevant to today’s advanced attacks,” explained Mark Lobel, PwC Advisory principal focused on information security. “It’s critical to fund processes that fully integrate predictive, preventive, detective and incident-response capabilities to minimise the impact of these incidents.”