RSA, The Security Division of EMC (NYSE: EMC), recently announced the results of a study conducted by the Ponemon Institute looking at the cost of fraud and online disruption coincident with Cyber Monday. The study surveyed 1,100 IT staff inside of retail organizations in the U.S. and UK.
Some of the key HIGHLIGHTS are :
- According to a new study by RSA and the Ponemon Institute, Cyber Monday represents an average 55 percent surge in daily online/mobile retail revenues.
- A corresponding surge in attacks drives hard losses, on average, as much as $500,000 per hour or $8,000 per minute. Customer churn from reputation and brand damage can drive losses to as much as $3.4 million from a single hour of disruption.
- While 64 percent of organizations see significant increases in attack activity, only 23 percent of attacks can be detected quickly and remediated, and nearly 70 percent of organizations do not take additional precautions in anticipation of increased attacks.
The report also identifies the top nine scenarios organizations will likely face approaching Cyber Monday with the vast majority categorizing these as difficult or very difficult to detect. In order of likelihood, the attack scenarios are:
- Botnet and Distributed Denial of Service (DDoS)
- App Store Fraud
- Mobile Access/Account Compromise
- Click Fraud
- Stolen Credit Card Validation
- eCoupon Abuse
- Account Hijacking
- Electronic Wallet Abuse
- Brand Promotion Hijacking