As those hacks suggest, the financial implications for targeted corporations can be substantial; in 2008, McAfee surveyed 800 firms and found they’d racked up combined losses of $4.6bn in intellectual property, while incurring costs of around $600m in repairs.
And the potential losses are even greater for banks, where every minute of down time deals million-dollar blows to the revenue base through lost trade. It can also have serious implications on the retail side, with consumers unable to access accounts and thereby make necessary payments – which in turn may pose legal issues, according to Crawley. “The legal side of not being able to adhere to your policies is critical”, he says.
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