The Mykonos Web Application Security BlogStats

A report released by McAfee has put a number on the size of the financial problem from web application abuse -  in this case it’s called ‘Web 2.0 breaches’. And that number is $1.1Billion.  Over 60% of respondents reported losses of $2Million from their business. Now that is a significant problem. The interesting fact is that 79% of the respondents have increased firewall protection since introducing Web applications into their business. Looks like all the firewall protection is missing $2Million worth of abuse. How big does this financial impact need to be before business people people start questioning the nature of security around web applications? And the final interesting part is that only 40% of businesses had budget allocated to securing Web 2.0 applications. This problem is not fully understood as a business problem. The scale of the problem may be much larger. It’s not often that you get to wonder is $1.1Billion in losses just the tip of the iceberg?