According to the latest research by Ponemon Institute, the average data breach now cost $3.8 million dollars, up from $3.5 million in 2014. As cyber-criminals get increasingly sophisticated, they have come to target more valuable data, including financial and medical records.
The Price Of An Attack
The study, which is based on interviews with 350 companies in 11 different countries, determined that companies now lose an average of $154 per individual record that is lost or stolen during a breach.
The average data breach can be a major blow to a company. Costs associated with a breach include experts hired to fix the breach, investigators hired to determine the cause of the breach, setting up services for affected customers, and legal fees associated and claims relating to the incident.
In addition to the monetary costs of a breach, companies suffer intangible damage to their reputations, as customers must place their trust in the security of the business.
Despite massive cybersecurity budgets, big-name companies are not…
Read the rest of this article (and all my other articles) for free on Benzinga by clicking here
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!