According to a newly released study conducted by the Ponemon Institute, the Second Annual Cost of Cyber Crime Study notes that the median annualized cost of cybercrime for a selected sample of organizations was $5.9 million USD per year, with a range of $1.5 million to $36.5 million each year per organization.

This is an increase of of 56 percent from the median cost reported in their inaugural study of the same name published in July 2010.

Over a four-week period, the organizations surveyed experienced 72 successful attacks per week, an increase of nearly 45 percent from last year. The vast majority (>90 percent) of attacks were brought about by malicious code, denial of service, stolen devices and web-based attacks.

What kind of protection will cyberspace need?