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Crime Doesn't Pay: 10 Ways To Control And Reduce Cybercrime Costs

These security technologies and strategies, identified by the Ponemon Institute, are being implemented at businesses to reduce the risk of a data breach and also rein in cybercrime costs, which have increased significantly in recent years.

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Rising Cybercrime Costs Can Be Lassoed, Says Ponemon

The Ponemon Institute found that the annualized cost of cybercrime to companies increased 26 percent over the average cost in 2012. In its "2013 Cost of Cyber Crime Study," Ponemon said that insiders, financially motivated cybercriminals and hacktivists combined to boost the cost of cybercrime. The study, based on interviews with more than 1,000 security professionals and a benchmark sample of 60 organizations that experienced security incidents, identified ways to rein in costs. Organizations that gain control of escalating cybercrime costs have mature security programs. They have personnel to proactively monitor network appliances, and have information governance activities to apply effective policies and enforce them.

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