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The document summarizes facts about the costs of data security breaches for companies. It states that the average cost of a data breach is $7.2 million and the average cost per lost record is $214. Over 96% of hacks could have been avoided with minor security improvements. The majority of breaches are externally initiated and involve servers, with small businesses being the most common targets.
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The Rise of Data Breaches in Small Businesses
While large companies experience most publicly reported data breaches, small businesses are also at high risk - 62% experience cyber attacks with the average cost of a breach being $38,000. IT security is not a top priority for many small businesses, with 44% lacking anti-malware solutions and half not considering security a main concern. This indifferent approach leaves small businesses vulnerable to the over 70% of successful cyber attacks experienced industry-wide each year.
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Small businesses are increasingly being targeted by cyber criminals but many small business owners have a false sense of security. Statistics show that the majority of small businesses lack basic cyber security measures like employee training, antivirus software, and data backups. As a result, nearly 60% of small businesses that experience a cyber attack end up closing permanently within six months. However, there are some low-cost steps small businesses can take to improve their cyber security, such as training employees, installing antivirus software, using firewalls, and regularly backing up important business data. Proper cyber security is important for all businesses regardless of size.
State of cybersecurity
In 2018, cybersecurity remains an issue as hackers' attacks have become more sophisticated. The number of data breaches in 2017 was 44.7% higher than in 2016, with a total of 1,579 publicly disclosed data leaks. Common causes of data breaches include hacking, unauthorized access, accidental web exposure, and employee errors. Despite increased security investments, the number of breaches has not decreased due to concerns about performance impacts and lack of budget and staffing. On average, it takes companies 191 days to detect a breach.
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- Regular auditing is crucial for regulatory compliance but 17% only conduct internal audits once a year and 3% every 2-3 years.
- 78% of organizations have a data governance program but more investment is needed. Budgets for regulatory compliance make up 15% or less of IT security budgets for 73% of organizations.
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The Rise of Data Breaches in Small Businesses
While large companies experience most publicly reported data breaches, small businesses are also at high risk - 62% experience cyber attacks with the average cost of a breach being $38,000. IT security is not a top priority for many small businesses, with 44% lacking anti-malware solutions and half not considering security a main concern. This indifferent approach leaves small businesses vulnerable to the over 70% of successful cyber attacks experienced industry-wide each year.
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Small businesses are increasingly being targeted by cyber criminals but many small business owners have a false sense of security. Statistics show that the majority of small businesses lack basic cyber security measures like employee training, antivirus software, and data backups. As a result, nearly 60% of small businesses that experience a cyber attack end up closing permanently within six months. However, there are some low-cost steps small businesses can take to improve their cyber security, such as training employees, installing antivirus software, using firewalls, and regularly backing up important business data. Proper cyber security is important for all businesses regardless of size.
State of cybersecurity
In 2018, cybersecurity remains an issue as hackers' attacks have become more sophisticated. The number of data breaches in 2017 was 44.7% higher than in 2016, with a total of 1,579 publicly disclosed data leaks. Common causes of data breaches include hacking, unauthorized access, accidental web exposure, and employee errors. Despite increased security investments, the number of breaches has not decreased due to concerns about performance impacts and lack of budget and staffing. On average, it takes companies 191 days to detect a breach.
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- 28% of organizations reported being hit by a data breach in the last 12 months, and data breaches are becoming more common.
- Regular auditing is crucial for regulatory compliance but 17% only conduct internal audits once a year and 3% every 2-3 years.
- 78% of organizations have a data governance program but more investment is needed. Budgets for regulatory compliance make up 15% or less of IT security budgets for 73% of organizations.
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Similar to Cost slides
2015 cost of data breach study
2015 Cost of Data Breach Study: Global Analysis
Benchmark research sponsored by IBM
Independently conducted by Ponemon Institute LLC
May 2015
2015 cost of data breach study global analysis
2015 Cost of Data Breach Study:
Global Analysis
By: Ponemon Institute
Benchmark research sponsored by IBM
Independently conducted by Ponemon Institute LLC
May 2015
Cost of Data Breach Study in 2015 - United States - Presented by IBM and Pono...
IBM and Ponemon Institute are pleased to present the 2015 Cost of Data Breach Study: United
States, our 10th annual benchmark study on the cost of data breach incidents for companies
located in the United States. The average cost for each lost or stolen record containing sensitive
and confidential information increased from $201 to $217. The total average cost paid by
organizations increased from $5.9 million to $6.5 million.
Ponemon Institute conducted its first
Cost of Data Breach study in the
United States 10 years ago. Since
then, we have expanded the study to
include the United Kingdom,
Germany, France, Australia, India,
Italy, Japan, Brazil, the United Arab
Emirates and Saudi Arabia, and for
the first time, Canada. To date, 445
US organizations have participated in
the benchmarking process since the inception of this research.
This year’s study examines the costs incurred by 62 U.S. companies in 16 industry sectors after
those companies experienced the loss or theft of protected personal data and then had to notify
breach victims as required by various laws. It is important to note the costs presented in this
research are not hypothetical, but are from actual data loss incidents. They are based upon cost
estimates provided by individuals we interviewed over a ten-month period in the companies that
are represented in this research.
The number of breached records per incident this year ranged from 5,655 to 96,550 records. The
average number of breached records was 28,070. By design, we do not include cases involving
more than 100,000 compromised records because they are not indicative of data breaches
incurred by most organizations. Thus, to include them in the study would artificially skew the
results.
The Business Case for Data Security
The growing costs of security breaches and manual compliance efforts have given rise to new data security solutions specifically designed to prevent data breaches and deliver automated compliance. This paper examines the drivers for adopting a strategic approach to data security, compares and contrasts current approaches, and presents the Return on Security Investment (ROSI) of viable data security solutions.
Advanced PII / PI data discovery and data protection
We will discuss using Advanced PII/PI Discovery to Find & Inventory All Personal Data at an Enterprise Scale.
Learn about new machine learning & identity intelligence technology.
You will learn how to:
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• Inventory PII by data subject & residency for GDPR.
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Running Head DATA BREACH 1DATA BREACH 3Data Breach Whit.docx
Running Head: DATA BREACH
1
DATA BREACH
3
Data Breach White paper
Institutional Affiliations
Name
Course details
Professors Name
Date
Introduction
For organizations that deal with critical information such as trade secrets, customer data and proprietary business data, the exposure to data breach is real today than it has ever been before. According to the report of Internet crime complaint center released in 2007 about 206,884 complaints regarding computer organized crimes including data breaches were filed online leading to a loss of about $239 million. However, according to expert information, only one in about seven such cases get reported to the authorities. This means that the accurate figures of cyber-crime and data breaches are roughly seven times more. In 2008 alone, more electronic data were breached compared to the previous four years put together (Baker et al., 2011).
The increased cases of data breaches should not catch us unawares. In the present age where data is almost everywhere, it is difficult today than ever before for companies to safeguard their confidential data. Sophisticated heterogeneous IT environments have made data management and protection harder and have posed challenges to the response of such threats. Yet the present day corporate operations rely on their security tools and teams in ensuring that there is sharing and collaboration by an increasingly mobile workforce for the purposes of security and safety. While data breach is something that is well documented, there is not much understanding on why data breaches happen and what action can be taken to stop them. This paper focuses on the reason why data breaches occur, the sources of data breaches and the way forward in combating the breaches.
The trends in causes of data breach
To be able to prevent data breaches, it is important to understand why they happen. According to the Verizon Business Risk Team (Baker,2009) and the Open Security Foundation (Analysis and Statistics,2018).
The major reasons why data breaches occur include targeted attacks, well-meaning insiders and malicious insiders. In most cases, combinations of these factors cause the breaches. For instance, targeted attacks become easy when well-meaning insiders fail to follow security policies which then cause breaches (Baker, 2009).
Well-meaning insiders
Organizational employees who breach policies inadvertently continue to represent the biggest threat. The Verizon report suggests that 7 per cent of the data breaches that happened in 2008 were as a result of significant errors by well-meaning insiders (Baker,2009).
Some of the mistakes they get involved in include
Data exposure on desktops and servers
The frequent proliferation of unprotected data sources such as desktops, servers, laptops has been cited as the natural outcome of a highly productive workforce. In most cases well-meaning insiders who are not aware or forget organizational security policies s.
Information Security vs. Data Governance vs. Data Protection: What Is the Rea...
This webinar will provide more information on the importance of information security and how you can take security well beyond compliance, an approach on building strong information security, privacy and data governance programs, and the importance of strong data governance in relation to privacy and information security requirements.
The webinar covers
• Information Security
• Importance Of Information Security Today
• Taking Information Security Beyond A Compliance First
• Importance Of Data Governance In Information Security
• Privacy
• Changing And Evolving Privacy Requirements
• Importance Of Data Governance In Privacy
• Data Governance And Data Privacy
• Data Privacy - Data Processing Principles
Presenters:
Moji is a Senior Business Process Analyst working with GemaltoThales, a leading firm in the IT industry. Moji has over fifteen years of experience in leading projects to improve processes, create and implement processes leading to increased revenue generation and eliminate redundancies.
She has a zeal for adding value and increasing revenue for organizations. Moji is very passionate about Data Privacy and its application in business and consumer rights.
Hardeep Mehrotara has 20+ years of senior leadership experience in Information Technology and Cyber Security working for public and private organizations building security programs from the ground up. He has been featured on Canadian television as a cyber expert and provided advice to various communities on implementing cybersecurity strategy, best practices and controls. He has been a co-author on numerous leading industry security control frameworks, technical benchmarks and industry best practice standards.
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US cost_of_cyber_crime_study_final6
The 2012 study found that the average annual cost of cybercrime for US companies was $8.9 million, a 6% increase from the previous year. Companies experienced 102 successful cyber attacks per week on average. The most costly attacks were denial of service attacks, malicious insiders, and web-based attacks. Information theft resulted in the highest costs, followed by costs from business disruption. The time to resolve attacks also increased costs.
Hpesp wp ponemon_costofcybercrimestudy2012_unitedstates(1)
This document summarizes the key findings of the 2012 Cost of Cyber Crime Study conducted by Ponemon Institute. The study found that the average annual cost of cybercrime for 56 US companies was $8.9 million, a 6% increase from 2011. Companies experienced 102 successful cyber attacks per week, on average. The most costly attacks were denial of service attacks, malicious insiders, and web-based attacks. Information theft resulted in the highest external costs, followed by costs from business disruption. The study also analyzed cybercrime costs for companies in the UK, Germany, Australia and Japan.
Top 3 security concerns for enterprises
The top 3 security concerns for enterprises are mobile security, cloud security, and human error. Mobile security is challenging as mobile devices accessing business information can be compromised if lost or stolen. Cloud security is a concern as companies lose visibility and control over their data in the cloud. Most security breaches are caused by human error through misconfigurations, not system flaws. CIOs must implement security strategies and policies to address these growing threats to protect companies' sensitive data and systems from cyber attacks and breaches.
A 5 step guide to protecting backup data by Iron Mountain
This document discusses the growing problem of data theft and security breaches. It provides the following key points:
- Data theft and security breaches have been issues since the inception of business computing, but they have become far more common in recent years due to factors like money to be made from stolen data and the increased accessibility of confidential information.
- While organizations invest heavily in perimeter security like firewalls, internal threats are underprotected as storage infrastructure and backup data remain insecure. Backup encryption is rarely used despite tapes containing sensitive data.
- To properly address data security risks, the document recommends that organizations develop comprehensive security strategies that integrate storage protection best practices, including encrypting backup data.
2017 cost of cyber crime study accenture
The document summarizes the findings of a 2017 study on the cost of cybercrime. Some key findings include:
1) The average annual cost of cybercrime increased significantly from the previous year, rising 27.4% to $11.7 million.
2) Costs varied significantly by country, with the US having the highest average cost at $21 million and Australia the lowest at $5.41 million. Germany saw costs rise the most, increasing 42.4% from the previous year.
3) Spending on security technologies that provide the greatest cost savings, like security intelligence systems, could help organizations better balance their security investments and reduce cybercrime costs.
2010 Annual Study: U.S. Cost of a Data Breach
The document summarizes a 2010 study on the costs of data breaches in the US. Key findings include: the average cost of a data breach rose to $7.2 million; malicious or criminal attacks were the most expensive cause of breaches but not the least frequent; and organizations are more proactively protecting themselves from attacks through encryption, employee training, and deploying security technologies.
The 2016 Ponemon Cost of a Data Breach Study
View on-demand webinar: https://securityintelligence.com/events/2016-ponemon-cost-data-breach/
Please join IBM and Larry Ponemon, Chairman and President of the Ponemon Institute, as he shares the results of his 2016 Cost of a Data Breach study and discusses the implications of the study for today’s businesses with Adam Trunkey, Portfolio Marketing Executive, for IBM Security Services.
In this on-demand webinar, you will learn the key findings of the study, including:
- What are the major cost implications from a security incident perspective in key geographies across the globe
- Key industries affected and what were the specific costs reported by respondents
- Major factors that affect the financial consequences of a data breach
- What mega trends are developing based on a decade of studying data breaches?
2016 cost of data breach study brasil
The document summarizes the key findings of a 2016 study on the cost of data breaches in Brazil conducted by IBM and Ponemon Institute. Some of the main findings include:
- The average per capita cost of a data breach for Brazilian companies increased significantly from R$175 to R$225. The total average organizational cost also rose from R$3.96 million to R$4.31 million.
- Malicious attacks were the leading cause of data breaches and had the highest per capita cost at R$256, followed by system glitches at R$211 and employee negligence at R$200.
- Certain industries like services, energy and financial services saw higher per capita costs above the
2013 cost of data breach study - France
The 2013 Cost of Data Breach Study: France found that the average cost of a data breach in France increased from €122 per lost or stolen record in 2011 to €127 per record in 2012. The total average organizational cost of a data breach also rose over this period, from €2.55 million to €2.86 million. Malicious attacks were the most common cause of breaches, accounting for 42% of cases. Lost business costs, which include customer churn, increased sharply from €0.78 million in 2011 to €1.19 million in 2012. Certain organizational factors like having an incident response plan in place were found to lower the costs of a breach.
Signacure Brochure
The document discusses the changing data protection laws in the EU and risks to businesses from data breaches. It notes that the cost of data breaches to businesses has doubled in the last year. The new EU regulations will require companies to share liability for data breaches by third-party service providers. Fines under the new laws may be up to 5% of a company's annual worldwide turnover. The document advises businesses to ensure adequate protection against data breaches and to plan responses to limit potential damage.
Cybersecurity - you are being targeted -Keyven Lewis, CMIT SOLUTIONS
cybersecurity - You Are Being Targeted
Business executive with high-level management and hands-on analytical skill sets and over 27 years of professional experience in technical solutions and service offering development and implementation, organizational strategies for efficiency, cost controls, and bottom-line profitability, multi-million dollar enterprise-wide client engagements, compliance with schedule, budget, and quality requirements, hiring and leadership of high-performance IT employees.
Keyven Lewis, CMIT SOLUTIONS- Cybersecurity - You Are Being Targeted.
An overview to help SMB owners understand the dynamics (exp. the who, the why, and the how) of cybersecurity as it relates to their business.
Data security in a big data environment sweden
This document discusses data security challenges in big data environments. It notes that data breaches are common and costly for organizations. Several examples of recent breaches are provided that impacted companies like Target, a Canadian government agency, and healthcare providers. The document advocates for the IBM Guardium suite of data security products to help secure sensitive data across different systems and platforms through discovery, monitoring, masking, encryption and other techniques. It argues these tools are needed to reduce risks, costs, and protect brand reputation for organizations working with big data.
2016 Cost of Data Breach Study Global Analysis .docx
2016 Cost of Data Breach Study:
Global Analysis
Benchmark research sponsored by IBM
Independently conducted by Ponemon Institute LLC
June 2016
Ponemon Institute© Research Report
Ponemon Institute© Research Report Page 1
20161 Cost of Data Breach Study: Global Analysis
Ponemon Institute, June 2016
Part 1. Introduction
IBM and Ponemon Institute are pleased to release the 2016 Cost of Data Breach Study: Global
Analysis. According to our research, the average total cost of a data breach for the 383
companies participating in this research increased from $3.79 to $4 million2. The average cost
paid for each lost or stolen record containing sensitive and confidential information increased
from $154 in 2015 to $158 in this year’s study.
In addition to cost data, our global
study looks at the likelihood of a
company having one or more data
breach occurrences in the next 24
months. We estimate a 26 percent
probability of a material data breach
involving 10,000 lost or stolen records.
According to this year’s findings,
organizations in Brazil and South
Africa are most likely to have a material data breach involving 10,000 or more records. In
contrast, organizations in Germany and Australia are least likely to experience a material data
breach.
In this year’s study, 383 companies located in the following 12 countries participated: United
States, United Kingdom, Germany, Australia, France, Brazil, Japan, Italy, India, the Arabian
region (United Arab Emirates and Saudi Arabia), Canada and, for the first time, South Africa. All
participating organizations experienced a data breach ranging from approximately 3,000 to
slightly more than 101,500 compromised records3. We define a compromised record as one that
identifies the individual whose information has been lost or stolen in a data breach.
Seven global megatrends in the cost of data breach research
Over the many years studying the data breach experience of 2,013 organizations in every
industry, the research has revealed the following seven megatrends.
1. Since first conducting this research, the cost of a data breach has not fluctuated significantly.
This suggests that it is a permanent cost organizations need to be prepared to deal with and
incorporate in their data protection strategies.
2. The biggest financial consequence to organizations that experienced a data breach is lost
business. Following a data breach, organizations need to take steps to retain customers’ trust
to reduce the long-term financial impact.
3. Most data breaches continue to be caused by criminal and malicious attacks. These
breaches also take the most time to detect and contain. As a result, they have the highest
cost per record.
4. Organizations recognize that the longer it takes to detect and contain a data breach the more
costly it becomes to resolve. Over the years, detection and escalation costs in our research
...
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みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
ここ3000字までしか入らないけどタイトルの方がたくさん文字入ると思います。
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みなさんこんにちはこれ何文字まで入るの？40文字以下不可とか本当に意味わからないけどこれ限界文字数書いてないからマジでやばい文字数いけるんじゃないの？えこ...
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Cost slides
- 1. Just the facts How much will a data security breach cost my company? ©Gazzang, Inc. 2011
- 2. Overview These slides are a compilation of useful, interesting, and scary facts about data security breaches. They outline what the research shows are the actual dollar costs related to a data breach, as well as consider some insight into non-quantifiable costs you may or may not have considered. 7/18/2011
- 3. Facts Average cost of a data breach is $7.2 million - up 7% from 2009 Average cost per record is $214 - up 5% from 2009 Small businesses with between 11-100 employees are the overwhelming majority of attacks Data shows the cost of a breach is directly related to the company’s attitude toward IT security and implementation of best practices 7/18/2011
- 4. Facts 96% of hacks were avoidable with minor tweaks to controls or little added security $4.5 million of the total costs are related to lost revenue, over 62% 92% of data breaches were initiated externally 17% of breaches involved an insiders 7/18/2011
- 5. Facts The US Secret Service investigated more than 760 breaches in 2010 76% of compromised data was taken from servers 89% subject to PCI regulations were not in compliance at the time of the hack Cost of non-compliance is 2.65x higher than compliance 7/18/2011
- 7. Sources The information comes from two sources. The Ponemon Institute seems to be the accepted authority in the data security space. Another interesting study is the Verizon Data Breach Investigations Report. 7/18/2011
- 8. Contact Information / Resources White Paper More about Gazzang- www.gazzang.com For more information - info@gazzang.com 7/18/2011