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cost of breach

Report: Data breaches have exposed more than 851M records since 2005

Dive Brief:
The business and health industries have suffered the most from cyberattacks since Identify Theft Resource Center (ITRC) started tracking breaches in 2005, according to a recent report from the ITRC and IDT911.

The business and health fields accounted for approximately 36% and 28% of breaches, respectively. The government and military accounted for about 14.4% of breaches.

Consumers will avoid service providers that suffered a breach

Kaspersky Lab has recently done a survey to see how much data security practices of banks and online retailers affect consumers’ choices and, as it turns out, they do – significantly.

The survey asked more than 11,000 consumers how big of a factor data security is when choosing an online provider, and 58 per cent have said they’d avoid a provider that has recently experienced a data or security breach.

Target in $39.4 million settlement with banks over data breach

Target Corp has agreed to pay $39.4 million to resolve claims by banks and credit unions that said they lost money because of the retailer’s late 2013 data breach.

The settlement filed on Wednesday resolves class-action claims by lenders seeking to hold Target responsible for their costs to reimburse fraudulent charges and issue new credit and debit cards.

Target previously said at least 40 million credit cards were compromised in the breach, and that as many as 110 million people may have suffered the theft of personal information such as email addresses and phone numbers. A Target spokeswoman said on Wednesday that 70 million people may have lost personal data.

Cyber Crime Costs Jump by 19%

Get the data you need to defend your company. Learn which attacks are most common and most costly, how companies worldwide are defending their businesses, and which cyber security defenses are proving most effecting in driving down losses.

2015 Cost of Cyber Crime Study: Global

Study shows security defenses drive down cyber crime losses

In their 2015 Cost of Cyber Crime Study: Global, the Ponemon Institute performed 2128 interviews with IT, compliance and information security professionals in 252 companies in seven countries to assess the incidence and cost to the businesses of cyber crime

2015 Cost of Cyber Crime Study: Global

Study shows security defenses drive down cyber crime losses

In their 2015 Cost of Cyber Crime Study: Global, the Ponemon Institute performed 2128 interviews with IT, compliance and information security professionals in 252 companies in seven countries to assess the incidence and cost to the businesses of cyber crime.

Virtual security breaches cost more

Businesses pay a significant premium to recover from a cyber-attack if virtual infrastructure is affected during the incident.
Enterprises pay more than $800 000 on average to recover from a security breach on virtual equipment, which is twice as much compared to incidents involving only physical infrastructure.

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