Neiman Agrees to Pay $1.6M Over Data Breach

After three years of litigation, Neiman Marcus has agreed to pay $1.6 million to settle a class action over a security breach that exposed the credit card information of about 350,000 customers. Settlement papers were filed with a federal judge Friday in a case that alleged Neiman was liable for the breach because it failed to […]

Aussie SMBs lose $6600 for each cyber attack

Norton (a Symantec company) says that despite long and concerted cyber security awareness campaigns, many Australian SMBs are still ill-equipped or unwilling to assess and proactively secure their devices and data to minimise the threats against cyber attacks in an increasingly digital world. Read more about the new report by Norton which reveals that each […]

How can you predict the costs of a data breach for your company?

Read  Bob Siegel’s article about how companies can predict cost of a data breach on CIO : A common fear of privacy officers is a data breach, the unauthorized acquisition or processing of personal information that is maintained by an organization. The fear is enhanced by some IT security folks reminding us that “there are […]

Cybersecurity Breaches Cost UK Firms £30 Billion in 2016, Says New Research

According to a recent survey, more than half (52 percent) of UK-based businesses fell victims to some form of cybercrime in 2016. The survey – published by internet service provider Beaming and conducted by researchers at Opinium – revealed that a staggering 2.9 million British firms experienced a cybersecurity breach last year. Read more about the […]

Cyber security need not cost a fortune, says researcher

There are many low-cost and no-cost things organisations can do to improve their cyber security posture, according to Lancaster University cyber security researcher Adrian Venables. Cost is one of the main reasons organisations put off addressing cyber security threats, he said, alongside perceptions that it is too complex to tackle or that security suppliers are simply […]

We finally know how much a data breach can cost

Read  Fredric Paul’s article about how the Verizon-Yahoo deal lets us arrive at the exact data breach cost on Network Security : Everyone knows corporate data breaches can be expensive, but does anyone really know exactly how expensive? Recent estimates for the average cost have landed all over the map, ranging from $4 million to […]

Over-Compensating Data Breach Victims Can Backfire

Compensation in response to a data breach is most effective when it meets customers’ expectations for what is appropriate, according to a new study by information systems researchers at the University of Arkansas. Such data breaches encompass privacy, information and security breaches. Read why over-compensating data breach victims could backfire for businesses on Insurance Journal.

Hidden Fees: What is the Cost of a Data Breach?

Read Jason Hart take a look at the real cost of a data breach on Information Management : Does anyone know the real cost of a data breach? This is a question that has been asked both in the board room and by researchers in the security industry ever since the first big data breaches […]

Pushing the envelope: How much should you risk on cyber security innovation?

Read Alexander Sword article about how much risks can a company take for cyber security innovation on Computer Business Review : IT professionals are under pressure to simultaneously keep things ticking over and innovate, and nowhere is this more true than in cyber security. But how much should companies be allocating to cyber security innovation? Read […]

Cost to US Companies of Data Breach Totals $7 Million

The cost to a U.S. company of a single lost or stolen digital record containing sensitive or confidential information reached $221 this year, up 2% year over year. The average total cost to a company from a data breach rose 7% to $7.01 million. On average, a single breach involved nearly 30,000 records, in a range […]