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November 10, 2017

Accenture Publishes Cybercrime Survey Results, Study

We all know the cyber security problem is bad, and getting worse. Accenture helps put it all into perspective with its recent survey and study.

The survey focuses on cyber security worries and desires in Canada. Accenture says that 53 percent of Canadians surveyed voiced concern about cyber crime and say that limits their use of online services.

Accenture’s 2017 Canada Cybercrime Survey also says that 36 percent of the people it polled have been the target of a cyber crime attempt. And 19 percent said they had been a victim of cyber crime. And 11 percent said they had reported cyber crime in the past three years.

But sometimes people don’t know what to do in the event of cyber crime, and the results of the Accenture survey illustrate that fact. The survey indicates that just 38  percent said they known how to report cyber security compromises.

photo courtesy of BigStock

And while 78 percent of the people surveyed said they want government and public safety agencies to provide more cyber crime prevention education, just 36 percent have confidence in police’s ability to address cyber crime complaints.

In addition to this survey in Canada, Accenture recently teamed up with the Ponemon Institute LLC to create the 2017 Cost of Cybercrime Study. This study focuses on cyber security and crime in the U.S.

It indicates such activities cost U.S. companies in such verticals as financial services, and utilities and energy, $11.7 million annually. That’s a 22.7 percent increase in cyber security costs in the country, where there are an average of 130 security breaches annually.

“Ransomware attacks alone have doubled in frequency, from 13 percent to 27 percent, with incidents like WannaCry and Petya affecting thousands of targets and disrupting public services and large corporations across the world,” the report says. “One of the most significant data breaches in recent years has been the successful theft of 143 million customer records from Equifax—a consumer credit reporting agency—a cyber crime with devastating consequences due to the type of personally identifiable information stolen and knock-on effect on the credit markets.

“Information theft of this type remains the most expensive consequence of a cyber crime,” the report continues. “Among the organizations we studied, information loss represents the largest cost component with a rise from 35 percent in 2015 to 43 percent in 2017. It is this threat landscape that demands organizations reexamine their investment priorities to keep pace with these more sophisticated and highly motivated attacks.”

Edited by Mandi Nowitz

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