Were you impacted by the Yahoo data breach? Regardless if you had one of the 500 million Yahoo email accounts, you were impacted if you were a stockholder, as the sales price to Verizon was reduced by an estimated $350 million.
Target had a data breach in 2013 where the credit card and contact information of an estimated 110 people was compromised. This breach resulted in the resignation of both the CIO and the CEO, and an estimated cost of $162 million.
There have been many data breaches that made the news over the past few years including eBay, Equifax, TJX, JP Morgan Chase, US Office of Personnel Management, The Home Depot, and Adobe.
All these breaches have something in common….they are very costly. There are the technical remediation costs, and lost productivity. Companies need to prepare the appropriate notifications to stakeholders and regulatory bodies. Fines and penalties can be costly, not to mention additional security measures to prevent future breaches. In fact, the average cost of a data breach is more than $3.6 million. The U.S. has the highest per capita cost at $225, according to the Ponemon Institute 2017 Cost of Data Breach Report.
And besides these costs that we can calculate, there are also “hidden” costs which can equal 90 percent[i] of the total business impact. Hidden costs include intangibles such as damage to reputation, business operational disruption, or loss of proprietary information.
How can you become better informed about the business impact of a breach? Be sure to join Flexera and special guest Heidi Shey, Senior Analyst at Forrester, for the webinar “Business Impact of a Breach and What You Can Do About It.”
In addition to learning how you can estimate the cost of a data breach for your organization, you will also learn about 2 key breach prevention strategies:
- Reducing the “Attack Surface” (aka your software footprint), which is something your Software Asset Management (SAM) team can help drive, and
- Closing the “Risk Window,” which requires you to be faster at knowing about vulnerabilities that can affect your organization, and then remediating them before they’re exploited.
Be sure to join us on the following dates and times:
November 30 – 10:00 am (US Central Time)
December 5 – 2:00 pm (Australia)
December 7 – 10:00 am (United Kingdom)
And if you cannot join us on one of the dates above, register for the on-demand webinar recording.
[i] Beneath the Surface of a Cyberattack: A Deeper Look at the Business Impacts. 2016 Deloitte Advisory