How Much Will a Data Breach Cost You?
Data breaches are seemingly as common as a headache, but sadly the remedy is profoundly more expensive than the cost of an aspirin. Data breaches can happen daily, even to the most proactive organizations who have security protocols in place to prevent them. Breaches expose sensitive personal information such as social security numbers, email addresses, and passwords. Based on the Phishing Activity Trends Report that the Anti-Phishing Working Group (APWG) released in 2019, there was a 46% increase in phishing sites from July – September 2019 compared to the numbers reported in the second quarter of the same year. Recent cases of data breaches that affected millions of people were those of Microsoft, Facebook, and Capital One.
Whether a scammer puts together a deceptive website to coax someone into falling for their trap, or a previous employee devises a malicious attack against a former employer, both kinds of data breaches will be very costly to remedy. The company must not only pay GDPR fines, but also must deal with the loss of data, productivity, downtime, and the trust of its employees and customers, whose private information may have been revealed. Giant companies like Marriott which experienced a data breach have been fined hundreds of millions of dollars, and this does not include the aforementioned losses.
Below is an average estimate of how much a data breach can cost your company.
If you are unsure even the slightest bit if your company’s data is secure, please contact TECHBLEED to find out how you can protect your data, be more proactive against attacks, and avoid any tech related issues before they occur.
(2019, November 5). Retrieved from https://www.businesswire.com/news/home/20191105005324/en/APWG-Q3-Report-Phishing-Attacks-Highest-Level