Some 90 per cent of US companies reported some form of security breach last year, costing them $265m, according to FBI figures. Loss of customer goods accounts for 29 per cent of these costs, while loss of staff time accounts for 22 per cent, money loss 23 per cent and loss of revenue 18 per cent.
The figures are revealed in the ePrivacy & Security Report, published this month by researcher eMarketer, which includes data from various sources showing how privacy and security issues impact companies and their customers.
Hacking is growing at an alarming rate, with the number of reported hacking incidents increasing from 4942 in 1998 to 17,672 in 2000, according to the Computer Emergency Response Team, a federally funded centre for the study of internet security vulnerabilities.
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