U.S. companies feel vulnerable to cyber crime

DENVER BUSINESS JOURNAL - Computer system intrusions, denial-of-service attacks, online financial fraud and other cyber crimes are on the rise, and U.S. companies feel more exposed than their peers overseas.

The annual US State of Cybercrime Survey, conducted by New York-based PwC (formerly PriceWaterhouseCoopers) and CSO magazine found that 77 percent of companies it surveyed had a cybersecurity event in the past year; 34 percent said the number of incidents they detected increased over the past year.

In PwC's separate global survey of CEOs, 69 percent of US executives reported being worried about cyber threats affecting their growth prospects, while only 49 percent of their peers outside the country felt that way.

A different PwC survey on economic crime found that 7 percent of U.S. organizations lost $1 million or more due to cybercrime incidents in 2013, while another 19 percent reported losses between $50,000 and $1 million. The U.S. percentages for both loss categories were double what PwC's survey found among businesses outside the U.S.

The FBI informed 3,000 businesses in the country last year that their systems had been compromised by some kind of outside cyber attacker, whether it was organized thieves, corporate spies, malicious hackers or some other intruder into their computer systems.

Read the full report on the Denver Business Journal: http://bit.ly/1pF9TPO.

(© 2014 American City Business Journals. All rights reserved.)


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