U.S. companies and cyber crime - Statistics & Facts

According to the IC3, the monetary damage caused by reported cyber crime in 2016 amounted to more than 1.33 billion U.S. dollars. That year, the U.S. state with the highest amount of losses was California with over 255 million U.S. dollars in reported cyber crime damages. The average cost of a company-directed cyber crime attack in the United States was 17.36 million U.S. dollars.

Based on the type of attack, industry figures estimate the number of days necessary to solve a cyber attack on a company can take up to 69 days. The most common types of cyber attacks experienced by U.S. companies were viruses and malware. According to a 2015 survey of U.S. companies, the most popular cyber securities deployed were advanced perimeter controls and firewall technologies as well as the extensive usage of encryption technologies. Other data loss prevention activities include training and awareness programs, as well as expanded encryption and endpoint security solutions.

Despite these efforts to protect the company from outside cyber attacks, there are many employee activities that render a company vulnerable, such as mobile device usage or remote work access. Other obstacles to implementing more robust cyber security solutions for businesses are the lack of funds as well as the lack of clarity regarding best practice. However, the average organizational cost to a business in the United States after a data breach in 2016 was 7 million U.S. dollars, causing more and more businesses to create an incident response plan to deal with cyber attacks.

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