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This is the ultimate guide to the cost of IT security. Select the details that match your company to see the average budgets your industry peers spend on IT security (by region, industry, size), what security measures they take, the major threat vectors they encounter, how much money they lose as a result, and what you can do to avoid being compromised. The Calculator has been created as an adjustable tool. The data presented can be updated and/or added to over time based on insights from customers and Kaspersky.
Companies that rely on monetary transactions for their core business have always been a lucrative target for cybercriminals. With advances in fraud technologies, cybercriminals are switching their focus away from the ‘easy pickings’ of customers to the more challenging but rewarding targets provided by services providers themselves. The most pressing issues for financial services providers are: targeted attacks, embedded systems security (ATMs, POS), the human factor, cloud availability, fraud and ransomware. All interconnected security systems aim to address the rapid detection of sophisticated attacks, but the response and prediction security stages are generally the subject of less attention, while they actually require greater levels of investment. Anti-targeted attack solutions, embedded systems security and specialized solutions for use in datacenters – all of these are ‘must-haves’ for financial services businesses.
High levels of integration between financial systems and the digital economy in the North American region means that monetizing cyber attacks is relatively straight forward. The significant growth of ransomware attacks in North America in recent years is a clear example of this. So all companies in this region should be ready to be an ‘early adopter,’ implementing all the latest IT security technologies such as anti-targeted attack, EDR and threat intelligence as soon as they become available. Financial organizations operating in North America should also pay special attention to cyber incidents resulting or originating from the physical loss of devices or data containing sensitive information, and the inappropriate use of IT resources by employees - in many cases unintentional. Embedded devices are a must-have service for the customers of these financial organizations, but they are also an entry point for targeted attacks. The current security levels for these devices are not usually enough and need to be enriched. In order to minimize the impact IT security incidents may have on suppliers, it is strongly advised that these organizations make cybersecurity awareness training part of employee onboarding and a regular training and development feature.