Today, cybersecurity firm Radware released a report discussing the damage a successful cyber attack can do to an organization, including to its reputation. The report was developed based on a worldwide survey of nearly 800 business and security executives and professionals. One of its key findings is that the average estimated cost of a cyber attack grew by 54 percent and now exceeds $1 million. Part of these costs emerge from impacts to an organization’s reputation, with some of the survey respondents acknowledging that they lost customers as a result of cyber attacks. A large number of respondents also reported experiencing lost productivity because of cyber attacks. According to Radware, despite the mounting costs of cyber attacks, three in four organizations have no formalized procedure to assess their business impacts. Access the full report at Radware.