Ponemon Institute and Venafi, the inventor of and market leader in Enterprise Key and Certificate Management (EKCM) solutions, today announced the 2013 Annual Cost of Failed Trust Report: Threats & Attacks. This new annual report provides the first extensive examination of how failure to control trust in the face of new and evolving security threats places every global enterprise at risk. Based on survey participant expectations, organizations are projected to lose $35 million (USD) over the next 24 months. This estimate is based on a total possible cost exposure of $398 million per organization. These and other conclusions are based on new primary research conducted by Ponemon Institute among Global 2000 organizations based in Australia, France, Germany, the United Kingdom and the United States.
Every business and government agency relies on critical security technologies to ensure that communications and transactions conducted across the Internet, as well as within closed networks, remain trusted, private and compliant with regulations. The most essential of these technologies are cryptographic keys and digital certificates, which provide the foundation of trust for the modern world of secure communications, card payments, online shopping, smartphones and cloud computing. Yet failing to manage certificates and keys creates vulnerabilities that cybercriminals exploit to breach enterprise networks, steal data and disrupt critical business operations. Until now, the cost of failed trust from these attacks has not been quantified but is based only on anecdotal evidence. This report changes that by providing hard research data about the financial risks. Download the full Ponemon 2013 "Annual Cost of Failed Trust Report: Threats & Attacks" "In partnering with Venafi, we set out to answer for the first time one of the most sought-after questions in information security and compliance: what are the precise financial consequences of failed trust from malicious attacks that exploit cryptographic key and certificate management failures?" said Larry Ponemon, chairman and founder of Ponemon Institute Research. "We rely on keys and certificates to provide the bedrock of trust for all business and government activities, online and in the cloud. Yet criminals are turning our dependence on these trust instruments against us at an alarming rate. "This new research not only allows us to quantify the cost of these trust exploits, but also gives insight into how enterprise failures in key and certificate management open the door to criminals. More than half of the companies surveyed, for instance, do not know how many keys and certificates they have, which is both a serious security issue and a Governance, Risk and Compliance (GRC) gap that executives must address with proper controls," said Ponemon. "It's not surprising then that all companies we spoke with had suffered an attack on trust due to failed key and certificate management, or that these attacks are projected to cost organizations an average of $35 million, with a maximum possible cost exposure of $398 million per organization. This level of risk and exposure demands remediation." The report reveals many findings, including:
In addition to revealing the financial impact of failing to control trust, the research also demonstrates the extent of the challenge facing enterprises in regaining control of their keys and certificates:
"Cyber criminals understand how fragile our ability to control trust has become, and as a result, they continue to target failed key and certificate management," said Venafi CEO Jeff Hudson. “These exploits wreak havoc by causing unplanned outages, productivity loss, brand damage and data breaches. Until today the financial impact, the extent of the challenges and the industry’s recognition of these compromises remained largely unknown and unquantified. "Trust is the foundation of all relationships, including those between enterprises and the markets they serve. As our world becomes more connected and more dependent on cloud and mobile technologies, maintaining control over trust by managing keys and certificates must be a top priority for all CEOs, CIOs, CISOs and IT security managers," Hudson continued. "When trust is compromised, business stops. Our hope is that this report provides both the validation and the motivation to help business and IT executives take action." To view the report, visit www.venafi.com/Ponemon To view a video clip of Venafi CEO Jeff Hudson discussing the research, visit: www.venafi.com/videos To learn more about the methodology and key findings, visit the Ponemon Institute blog: www.ponemon.org/blog
Ponemon Institute© is dedicated to advancing responsible information and privacy management practices in business and government. To achieve this objective, the institute conducts independent research, educates leaders from the private and public sectors and verifies the privacy and data protection practices of organizations in a variety of industries.
Lorem ipsum dolor sit amet, consectetur elit.
Thank you for subscription
Scroll to the bottom to accept
VENAFI CLOUD SERVICE
*** IMPORTANT ***
PLEASE READ CAREFULLY BEFORE CONTINUING WITH REGISTRATION AND/OR ACTIVATION OF THE VENAFI CLOUD SERVICE (“SERVICE”).
This is a legal agreement between the end user (“You”) and Venafi, Inc. ("Venafi" or “our”). BY ACCEPTING THIS AGREEMENT, EITHER BY CLICKING A BOX INDICATING YOUR ACCEPTANCE AND/OR ACTIVATING AND USING THE VENAFI CLOUD SERVICE FOR WHICH YOU HAVE REGISTERED, YOU AGREE TO THE TERMS OF THIS AGREEMENT. IF YOU ARE ENTERING INTO THIS AGREEMENT ON BEHALF OF A COMPANY OR OTHER LEGAL ENTITY, YOU REPRESENT THAT YOU HAVE THE AUTHORITY TO BIND SUCH ENTITY AND ITS AFFILIATES TO THESE TERMS AND CONDITIONS, IN WHICH CASE THE TERMS "YOU" OR "YOUR" SHALL REFER TO SUCH ENTITY AND ITS AFFILIATES. IF YOU DO NOT HAVE SUCH AUTHORITY, OR IF YOU DO NOT AGREE WITH THESE TERMS AND CONDITIONS, YOU MUST NOT ACCEPT THIS AGREEMENT AND MAY NOT USE THE SERVICE.
You shall not access the Service if You are Our competitor or if you are acting as a representative or agent of a competitor, except with Our prior written consent. In addition, You shall not access the Service for purposes of monitoring its availability, performance or functionality, or for any other benchmarking or competitive purposes, and you shall not perform security vulnerability assessments or penetration tests without the express written consent of Venafi.
This Agreement was last updated on April 12, 2017. It is effective between You and Venafi as of the date of Your accepting this Agreement.
The Venafi Cloud Service includes two separate services that are operated by Venafi as software as a service, each of which is separately licensed pursuant to the terms and conditions of this Agreement and each of which is considered a Service under this Agreement: the Venafi Cloud Risk Assessment Service or the Venafi Cloud for DevOps Service. Your right to use either Service is dependent on the Service for which You have registered with Venafi to use.
This License is effective until terminated as set forth herein or the License Term expires and is not otherwise renewed by the parties. Venafi may terminate this Agreement and/or the License at any time with or without written notice to You if You fail to comply with any term or condition of this Agreement or if Venafi ceases to make the Service available to end users. You may terminate this Agreement at any time on written notice to Venafi. Upon any termination or expiration of this Agreement or the License, You agree to cease all use of the Service if the License is not otherwise renewed or reinstated. Upon termination, Venafi may also enforce any rights provided by law. The provisions of this Agreement that protect the proprietary rights of Venafi will continue in force after termination.
This Agreement shall be governed by, and any arbitration hereunder shall apply, the laws of the State of Utah, excluding (a) its conflicts of laws principles; (b) the United Nations Convention on Contracts for the International Sale of Goods; (c) the 1974 Convention on the Limitation Period in the International Sale of Goods; and (d) the Protocol amending the 1974 Convention, done at Vienna April 11, 1980.
In the meantime, please explore more of our solutions
In the meantime, please explore more of our solutions
This site uses cookies to offer you a better experience. If you do not want us to use cookies, please update your browser settings accordingly. Find out more on how we use cookies.