Data Breach Costs Drop Globally But Increase in US

The average cost per data breach is now $3.62 million worldwide, marking a 10% drop from the $4 million average cost-per-breach in 2016. This marks the first time data breach cost has decreased overall since IBM created its Cost of Data Breach report, which was published June 20. The good news unfortunately doesn’t apply to everyone: […]

Data breach costs are dropping, but still $3.62 million on average, report says

Financial losses from data breaches may be starting to drop: The average cost of a data breach worldwide is now $3.62 million, down 10% from last year, according to a new study from IBM Security and the Ponemon Institute. Read about a new study by IBM Security and Ponemon Institute which found that data breach […]

The Rising Business Risks of Cyberattacks and How to Stay Safe [Infographic]

Last week we saw the ousted FBI Director James Comey sensationally claim that he has “no doubt” the Russian government and hackers were behind the DNC hack to influence last year’s presidential elections. Data breaches, cybersecurity, and identity theft can be a huge burden for businesses and customers. In 2016, reported data breaches increased by 40 […]

WannaCry: A wake-up call to be safe (and smart) than sorry

Even as an international manhunt gets underway to find the perpetrators behind the WannaCry ransomware that hit hundreds of thousands of computers across 150 countries, experts and security researchers are warning of new strains of attacks like Adylkuzz that are even more stealthy and potent. Read about the lessons that businesses can learn from WannaCry […]

Data breaches will cost businesses more than $8 trillion over next 5 years

Criminal data breaches will cost businesses a total of $8 trillion over the next five years, according to a global report from U.K-based market intelligence firm Juniper Research. The report predicts that more than 2.8 billion personal data records will be stolen by hackers in 2017, and five billion by 2020. Read about the new report […]

Phishing Scams Cost American Businesses Half A Billion Dollars A Year

These days, the FBI devotes a lot of time and effort to cybercrimes, particularly those they refer to as business email compromise scams. BECs are a type of phishing attack in which criminals target businesses that frequently send international wire transfers, and they can involve huge sums of money. A report issued this week by […]

The urgent need to ‘quantify the hidden costs of a data breach’

As the financial implications of IT downtime continue to swell, organisations must be prepared to assign real costs to the intangible or ‘hidden’ damages, which are regularly experienced during a cyber security breach. Read why organisations must be prepared to quantify the ‘hidden’ costs of a breach to strengthen the case for continued security investment […]

An untold cost of ransomware: It will change how you operate

Read Paula Long’s article about the hidden costs of ransomware and how it affects businesses on Help Net Security : Ransomware is unfortunately an IT reality. With the complexity and frequency of attacks, there is a good chance you or someone you know has been impacted. Many victims attacked are tempted to just pay the […]

Risky Business – The Valuation of Data Breaches

Read why Richard Pain says that data breach cost valuation is a risky business on MIS Asia : How can you calculate the value of a data breach in your organisation and implement an effective mitigation strategy? This is the question that Todd Forgie answers in his fascinating presentation, originally delivered at CLOUDSEC Singapore. Read his […]

Cyber breaches have cost shareholders billions since 2013: report

Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found. Severe cyber security breaches, such as those having legal or regulatory consequences, involve the loss of hundreds of thousands of records and hurt the firm’s brand, caused share prices to fall […]