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Recovery and response expenses mount quickly when a data breach happens. The recently released 2016 Cost of Data Breach U.S. Study sponsored by IBM and the Ponemon Research Institute shows the average costs of a data breach by providing an average record cost of a breached record, by industry. Amongst the growing list of costs to respond to a breach, there are costs to hire …
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While certain industries have higher data breach costs, the below average record costs are straight from the 2016 Cost of Data Breach U.S. Study sponsored by IBM and the Ponemon Research Institute. Public: $86 Hospitality: 148 Research: $172 Media: $177 Industrial: $186 Technology: $198 Retail: $200 Consumer: $216 Education: $220 Services: $226 Communications: …
Long gone are the days of bank robbers tunneling their way into bank vaults, stealing bundles of money and jewels. While these incidents still happen, they have become fewer and farther between. For instance, in 2015 in a remarkable heist, crafty burglars drilled an enormous hole through a vault in order to ransack a safety deposit box vault, making off with more than $300 …
There’s no doubt any longer that it's not safe out there... no matter who you are. If you’re a company that has data worth stealing, you’re on the target list. When names like the FBI, the DHS or the IRS have a data breach, it is quite a different kind of breach than what companies face, as they’re organizations that are not impacted by financial or customer loss being that …
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WORLD DATA PROTECTION REPORT >>> VOLUME 15, NUMBER 1 >>> JANUARY 2015 Responding to Today’s Data Breach Environment: What U.S. Directors Really Need to Know about Cyber Insurance By Paul A. Ferrillo, of Weil, Gotshal & Manges LLP, New York, and Christine Marciano, of Cyber Data Risk Managers LLC, Princeton, N.J. Every U.S. board of directors …
