MITIGATING ORGANIZATIONAL IMPACTS OF A DATA BREACH
As cybersecurity threats have increased precipitously over the past several years, statistics regarding data breaches have shown that the impacts of a breach on businesses are getting worse.
Perhaps the most comprehensive survey on the matter, IBM’s Cost of a Data Breach report, finds that the average cost of a breach ends up being close to $4 million, and these incidents take more than three-quarters of a year to finally close out. Further, only half of the breaches reported in their survey were malicious attacks, meaning that user error can account for just as many issues as the bad guys do—and by some estimates, it’s even greater. The UK Information Commission Office says that 90% of UK cyber breaches in 2019 were caused by human error.
Email compromises, hacking malware, unintended disclosures, third-party breaches, lost laptops and insider breaches are all common issues that face businesses today. And with remote work more common than ever, ensuring that employees are taking proper care of business data can be difficult, even with the most hardened networks and process controls in place.
In this whitepaper, we’ll briefly review the organizational impacts of a data breach that come after an attack, and assess preparing for and mitigating against those risks both before an incident occurs and after it has already happened.
