August 7, 2018 | Content Aggregator - Single Slide | Data Breaches
What's the best way to gauge the cost of a data breach to a financial services organization? In this Ask-an-Expert written response, IANS Faculty Rebecca Herold says it's important to consider common hard costs (direct, residual, etc.) in addition to softer, harder to measure impacts (e.g., brand damage and difficulty hiring).
Nearly half of all data breaches (46%) reported last year occurred in retail/hospitality/utilities, while 29 percent were reported in the medical/health care industry. Another 11 percent of reported breaches affected banking/credit/financial industries.
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.