A Banner Year For Cybercrime

The Cybercrime Landscape

Cybercrime knows no limits. It is rampant, expensive, and ongoing. Experts convening at the World Economic Forum in Switzerland in January 2009 noted that online theft costs a trillion dollars a year globally and the number of cyber attacks is rising sharply. The annual Ponemon Institute Study on data breaches indicates rising volumes and costs, with the average cost of a data breach increasing from $197 to $202 per record in 2007, up 46 percent from the $138 per-record cost cited in the first annual Ponemon report in 2005.

All signs point to 2009 being a banner year for cybercrime.

Security Spending to Keep Pace with Cybercrime

Business customers surveyed for the 2009 Market Study on Security published by CRN indicated almost unanimously that they will spend budget on security solutions this year—regardless of current economic conditions. According to the report, “More than 85 percent of businesses said that security purchases are on the near-term horizon.” The top two drivers are “increasing security threats and the desire to prevent data loss,” with regulatory compliance a distant third.

Most Urgent Needs for 2009

Viruses and other malware continue to evolve, and the top purchase for small businesses in 2009 will be anti-malware solutions, according to the CRN Market Study. (Good News: The SECNAP SpammerTrap^® Email Security appliance provides complete protection from spam, viruses and other malware in one smart box—no additional equipment necessary.)

Another important spend will be on web security technology, according to the study, as businesses rely increasingly on online applications and ecommerce. For example, almost 40 percent of businesses with 100 to 999 employees will invest in web application protection this year. (Good News: The SECNAP Web Application Assessment is a competitively priced security service that identifies risks and recommends improvements to eliminate risk.)

Interestingly, almost 35 percent of small businesses (those with fewer than 100 employees) indicated that the availability of new innovations will also drive their spending this year. (Good News: SECNAP offers the most advanced security solutions on the market today, and we continue to add cutting-edge features and functionality to our next-generation SpammerTrap Email Security solution as well as the Network Security Solution Powered by HackerTrap.

Surveyed customers reported spending roughly 20 percent of their overall IT budgets on security products in 2008 and do not expect that to change in 2009 as they ratchet up security to keep pace with the relentless advance of cybercrime.