July 25, 2018 | Content Aggregator - Single Slide | Data Breaches
Vulnerabilities and breaches are mainstream news regularly. With a new vulnerability seemingly discovered daily, which should be taken more seriously (i.e., patch now!) and which are overhyped? In this quarterly research report, IANS Faculty Mike Saurbaugh updates clients on the top vulnerabilities and breaches from the past quarter and provides some real-world context and perspective.
India’s national ID database, Aadhaar, suffered the biggest data breach in 2018, exposing the records of nearly every citizen in India, or 1.1 billion people. Marriott came in second with ~500 million customer records exposed. While it’s difficult to estimate exact financial losses associated with a data breach, Ponemon Institute calculates that the global average cost of a data breach in 2018 to be $148 per record compromised.
Retail incurs the highest costs associated with a cyber attack at $1.73 million, according to Radware analysis. High-tech is a close second at $1.7 million, followed by health care at $1.43 million and financial services at $1.24 million.
Estimates of the financial impact of a successful cyber attack can vary significantly. On average, the cost of a successful cyber attack has reached $1.7 million. This cost includes a number of factors, including operating expenses, investigations, audits/software patches, customer compensation, regulatory fines and future prevention costs.