It’s been a wild year for cybercrimes — everything from the phone hacking allegations at Rupert Murdoch’s media empire to the arrest of 14 people for alleged attacks on PayPal in retaliation for its decision to suspend WikiLeaks’ accounts, notes Tam Harbert, in the October issue of Law Technology News magazine.
A 2011 survey by the Ponemon Institute polled 50 companies and found that the average time to resolve an attack is 18 days, and that the costs of incidents have skyrocketed 56 percent since 2010 — to a median annualized cost of $59 million. Typical crimes: “malicious code, denial of service, stolen devices, and web-based attacks,” Ponemon reports.
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