Sensitivity of customer information and time-to-detection determine financial blowback of cybersecurity breaches
"The authors of the "Trends in Cybersecurity Breach Disclosures" report from Audit Analytics reviewed 639 cybersecurity breaches at public companies since 2011 and discovered that, on average, each cyber breach costs $116 million.
The report found that in 2019, cybercriminals usually targeted customer names, addresses, and e-mail addresses (48%, 29%, and 28%, respectively). In 2018, names and credit card information were the most-sought types of information. Between 2011 and 2019, malware (34%) was the common commonly used method to obtain data, followed by phishing (25%), unauthorized access (20%), and misconfiguration (12% percent). However, almost half (43%) of companies that suffered a data breach kept the type of attack to themselves..."
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