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The Average Cost of a Data Breach Is Now $4 Million (helpnetsecurity.com)
Reader Orome1 writes: The average data breach cost has grown to $4 million, representing a 29 percent increase since 2013, according to a report by Ponemon Institute. Cybersecurity incidents continue to grow in both volume and sophistication, with 64 percent more security incidents reported in 2015 than in 2014. As these threats become more complex, the cost to companies continues to rise. In fact, companies lose $158 per compromised record. Breaches in highly regulated industries like healthcare were even more costly, reaching $355 per record -- a full $100 more than in 2013.
Because of this:
"Work with IT or outside security experts to quickly identify the source of the breach and stop any more data leakage"
I imagine this includes doing a security audit, and fixing any holes, which should be done regardless of a breach. Perhaps the breach even made it easier to find certain holes.
The "cost" of a breach is certainly high, but a lot of the time, these numbers are inflated. For example, do you calculate in the time of your own IT staff that you would be paying anyway ? Yesterday, because of an auto accident that slowed down my commute home, I lost almost $14,000. You see, I value my personal time at $7,000 an hour.
If you want news from today, you have to come back tomorrow.
Should be higher. That way companies would fix their s***!
This. This needs a higher score. Where are my moderation points when I need them?
> representing a 29 percent increase since 2013, according to a report by Pokemon Institute.
In they past they would have sent out Pikachu and a Sqirtle to destroy the hackers. These days they sit around in an institute writing studies. Sad.
I should use this sig to advertise my book ISBN-13 : 978-1501515132.
Appreciate the thought, but I posted as AC, so it wouldn't let you mod it anyway. Thanks though.
The more data you warehouse, and the more valuable that data is, the more interested in breaching your security the hackers of the world are.
But of course, these businesses will never consider this risk as an itemized business cost, and will just greedily sequester more and more data, while continuing to pay lipservice to network security.
And then, when the hackers clean them out, they pout about needing more onerous antihacking laws.
Better idea: Don't mass warehouse data, or, if you decide to do so, keep that data isolated from your internet facing network, and pay for proper security featuring penetration testing and security auditing.
Where does your data come from? In my experience, most data incidents happen with larger companies that have extensive data collections.
We used to have a Bill of Rights. Now, with the rights gone, all we have left is the bill.
make each nation an isolated internet, and if a foreign country wants to make their content available to another country they can pay for the service in that other country to host content, that will stop those hacks from foreign country's dead in their tracks, and cyber-security can focus on domestic cyber crime
Politics is Treachery, Religion is Brainwashing
Modern computer security is the equivalent of implementing bank security by distributing all the money from the vault into the cash registers of every store in a mall, and then hiring an army of mall cops to patrol all the cash registers.
IT professionals are the "mall cops" in this scenario, and unsurprisingly they keep telling us that we need to hire more mall cops and buy them all really nice Segways.