Symantec: Data Thefts Cost Firms $2 Million

A Symantec survey shows that 75 percent of respondents were victims of cyber attacks.

By Kara Reeder | Posted Feb 22, 2010
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Symantec research shows that data thefts cost companies an average of $2 million each last year. According to Bloomberg, a suvery of IT executives showed that 75 percent of respondents were victims of cyber attacks last year with most intrusions aimed at stealing a company's intellectual property.

Symantec says protecting data has become more difficult because companies trimmed security staff during the recession. Meanwhile, hackers have become more skillful and specialized, notes Symamtec's Maureen Kelly:

While hackers are still looking for customer data, like credit card information, they are now going more for industrial espionage and counterfeiting. They are also more specialized -- with one person to break in, another to get the data, a third to install the software to steal information, and a fourth to encrypt it and distribute it.

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