That hit will be exacerbated if a company acts befuddled by the breach. "An organization's inability to answer critical post-breach questions can have the most detrimental effect on their brand," he said in an interview.
However, many companies still appear to be ill-equipped to battle cyberattacks. A study released by Solera today found that a third of malicious breaches are discovered by third parties, not by a company's security defenses.
The study, performed by the Ponemon Institute, also revealed that the average cost of a malicious data breach totaled $840,000 -- almost twice the $470,000 cost of a non-malicious breach.
"Our study confirms that organizations are facing a growing flood of increasingly malicious data breaches, and they don't have the tools, staff or resources to discover and resolve them," Larry Ponemon, chairman and founder of the institute that bears his name, said in a statement.
Sign up for Computerworld eNewsletters.