The cost of cybercrime increasing for companies

Study sampled 58 large U.S. companies and more than 200 companies overseas

Courtesy MGNonline

GREENFIELD, Mass. (WWLP) – Cybercrime costs are climbing for companies in the United States and around the world.

The Ponemon Institute found that the average annual costs of cybercrime for large U.S. companies has increased to about $15-million; that’s a 19% increase from last year. The study sampled 58 large U.S. companies and more than 200 companies overseas. Mark Maigret of Northampton said, “I think it’s important to keep the customers’ information safe, including, even the company’s information.”

Gabriel Patriquin from Laptop and Computer Repair Inc., told 22News what’s attracting criminals to hack into the databases of large companies. “Most companies that are on that scale probably have a database full of people’s personal information,” said Patriquin. Hackers consider that personal information a “treasure trove.”

Governor Charlie Baker has designated October “Cyber Security Awareness Month” to engage, both, the public and private sectors about the importance of being prepared for issues related to cyber security.

One Greenfield resident told 22News, he feels technology has outpaced cyber security. “I do a decent amount of credit card transactions and I’m always worried about information. I’m worried about legal and illegal sharing of my information,” said Mark Wisnewski of Greenfield.

Laptop and Computer Repair in Greenfield also told 22News, another reason why we’re seeing more hacking cases is because of the widespread availability of the internet.

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