Cisco Finds Significant Revenue Losses for More Than 33 Percent of Entities Breached in 2016

More than one-third of surveyed entities that experienced a cyber breach in 2016 reported revenue losses of more than 20 percent, Cisco reported. More than 50 percent of organizations that experienced a data breach faced public scrutiny as a result, it said Tuesday. Cisco said it surveyed almost 3,000 organizations' chief security officers and security operations leaders. Ninety percent of surveyed organizations that reported significant losses due to breaches said they're now improving their cyberthreat defenses, technologies and processes, including security awareness training for employees and implementing cyber risk mitigation techniques. Cisco found that organizations investigated only 56 percent of security alerts and remediated less than half of the legitimate alerts. “In 2017, cyber is business, and business is cyber -- that requires a different conversation, and very different outcomes,” said Chief Security and Trust Officer John Stewart in a news release. “Relentless improvement is required and that should be measured via efficacy, cost, and well managed risk.”