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Businesses spend nearly $270,000 on average annually to fight cyber threats: Official

Posted On: Jun. 26, 2015 12:00 AM CST

Pat Larkin, chief executive of Ireland-based security firm Ward Solutions Ltd., has said that firms in the country face an average annual bill of €240,000 ($269,000) to deal with cyber threats, Irish Examiner reported.

This amount spent on cyber security "highlights the growing threat of cybercrime and the huge financial impact it has on Irish organizations," added Mr. Larkin. A new study has found that nearly half of the firms in the nation have experienced targeted spear phishing attacks.

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