The business of protecting computers and servers from intruders has been growing nearly 10% a year since 2006, but security industry officials say 2011 may be the busiest yet. Companies are expected to spend $75.6 billion, easily surpassing last year's record of $63 billion.
Security and data breaches have cost U.S. companies nearly $96 billion in just the first six months of the year, almost as much as it cost them in all of 2010, according to the Ponemon Institute, a research group that studies Internet security. The costs include spending on security experts and investigations, loss of work caused by a breach, system software upgrades and the value of stolen intellectual property and funds from bank accounts.
Sony has alone estimated it will lose more than $170 million from hackers breaching its PlayStation Network in April and stealing credit card information of its 70 million members. The damage includes loss of revenue and additional spending on security enhancements and legal fees.
Tuesday, July 5, 2011
Attacks on websites spark demand for cyber-security experts
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