COST OF CYBER CRIME STUDY INSIGHTS ON THE SECURITY INVESTMENTS THAT MAKE A DIFFERENCE

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1 2017 COST OF CYBER CRIME STUDY INSIGHTS ON THE SECURITY INVESTMENTS THAT MAKE A DIFFERENCE

2 NUMBER OF SECURITY BREACHES IS RISING AND SO IS SPEND Average number of security breaches each year 130 Average annualized cost of cyber crime (USD) $11.7M +91% Percentage increase over last five years +47% Percentage increase over last five years

3 THE FINANCIAL CONSEQUENCE OF A CYBER ATTACK IS WORSENING Copyright 2017 Accenture Security. All rights reserved. 3

4 THE FINANCIAL CONSEQUENCE OF A CYBER ATTACK IS WORSE IN ALL COUNTRIES Copyright 2017 Accenture Security. All rights reserved. 4

5 THE FINANCIAL CONSEQUENCE OF A CYBER ATTACK IS WORSE IN ALL COUNTRIES Copyright 2017 Accenture Security. All rights reserved. 5

6 FINANCIAL SERVICES HAS THE HIGHEST COST OF CYBER CRIME Copyright 2017 Accenture Security. All rights reserved. 6

7 RANSOMWARE ATTACKS HAVE DOUBLED WITH WEB-BASED, BOTNET AND DOS ATTACKS RISING Copyright 2017 Accenture Security. All rights reserved. 7

8 MALICIOUS CODE AND RANSOMWARE ARE TAKING LONGER TO RESOLVE Copyright 2017 Accenture Security. All rights reserved. 8

9 MALWARE AND WEB-BASED ATTACKS ARE THE TWO MOST COSTLY ATTACK TYPES Copyright 2017 Accenture Security. All rights reserved. 9

10 INFORMATION THEFT REMAINS THE MOST EXPENSIVE CONSEQUENCE OF ATTACKS Copyright 2017 Accenture Security. All rights reserved. 10

11 COMPANIES NOW SPEND THE MOST ON DETECTION AND CONTAINMENT Copyright 2017 Accenture Security. All rights reserved. 11

12 AI AND ADVANCED ANALYTICS ARE LEAST DEPLOYED SECURITY TECHNOLOGIES Copyright 2017 Accenture Security. All rights reserved. 12

13 INVESTMENT IS BEING MISDIRECTED TO SECURITY CAPABILITIES THAT DON T DELIVER THE POSITIVE OR NEGATIVE VALUE GAPS ASSOCIATED WITH SECURITY INVESTMENTS Copyright 2017 Accenture Security. All rights reserved. 13

14 PRIORITIZE BREAKTHROUGH INNOVATIONS LIKE AI AND ANALYTICS Organizations need to: 1. 1 Better balance investments in security technologies 2. Use compliance technology but don t 2 bet the business on it 3. 3 Grasp the innovation opportunity 50 days Average time to resolve malicious insiders attack 23 days Average time to resolve a ransomware attack Copyright 2017 Accenture Security. All rights reserved. 14

15 WE RECOMMEND THREE STEPS TO IMPROVE CYBERSECURITY EFFECTIVENESS 1 Build cybersecurity on a strong foundation Invest in the basics but also innovate 2 Undertake extreme pressure testing Identify vulnerabilities more rigorously 3 Invest in breakthrough innovation Enhance program effectiveness and scale value Copyright 2017 Accenture Security. All rights reserved. 15

16 ABOUT THE RESEARCH Examining the economic impact of cyber attacks 2,182 interviews 7 Australia France Germany Italy countries Japan United Kingdom United States 254 companies 8-year research program Jointly developed by: Copyright 2017 Accenture Security. All rights reserved. 16

17 About Accenture Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions underpinned by the world s largest delivery network Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With approximately 411,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at About Accenture Security Accenture Security helps organizations build resilience from the inside out, so they can confidently focus on innovation and growth. Leveraging its global network of cybersecurity labs, deep industry understanding across client value chains and services that span the security lifecycle, Accenture protects organization s valuable assets, end-to-end. With services that include strategy and risk management, cyber defense, digital identity, application security and managed security, Accenture enables businesses around the world to defend against known sophisticated threats, and the unknown. Follow on Twitter or visit the Accenture Security blog. Learn more:

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