The price tag is higher if the incident exposed customer data or if it was the result of a malicious attack, an annual IBM study finds. The average cost of a data breach has declined by 1.5% year-over-year, costing companies US$3.86 million per incident, according to IBM’s 2020 Cost of a Data Breach Report. The annual … More What is the cost of a data breach?
Why are SMBs a target for ransomware-wielding gangs and what can they do to protect themselves against cyber-extortion? According to the World Bank, small and medium-sized businesses (SMBs) play a huge role in most economies, accounting for 90% of businesses worldwide and representing over 50% of employment. These are businesses that range from family-owned restaurants, through … More Small and medium‑sized businesses: Big targets for ransomware attacks
Simply throwing more staff at the patching problem won’t cut it, a study suggests. To paraphrase English novelist Jane Austen, it is a fact universally acknowledged that organizations must act with alacrity when it comes to applying software patches to their systems. A number of recent notorious incidents – think the WannaCryptor malware outbreak or the breach … More Rough patch, or how to shut the window of (unpatched) opportunity
While not the most frequent victims of cybercrime, firms in financial services are facing higher costs relating to such incidents when compared to businesses in any other sector, a study by Accenture and the Ponemon Institute has found. The financial services industry was found to incur cyberattack-induced cost of nearly $18.3 million per firm in 2017 … More Cybercrime weighs most heavily on financial service firms
Within the world of IT security, one of the biggest concerns for companies and users is malicious code that can compromise their systems and/or information networks. This concern is not at all unfounded, as cases of malware and crimeware incidents are reported daily around the world. Indeed, the number of reports, detections and threats observed … More Crimeware: Malware and massive campaigns around the world