The Average Cost of a Data Breach in 2017 is $7.5 Million

Sep 22, 2017 1:51:00 PM

 “How do I convince people who don’t know me that an enemy they don’t believe in is coming to kill them all?”

The above quote from the HBO series Game of Thrones transposes itself eerily well to the realm of information security – threats can seem nebulous and vague, repercussions aren’t always easily quantifiable, and it can be a challenge to convince stakeholders that security threats have business considerations to the organization as a whole – beyond of the IT department.
Toptal recently posted a fairly comprehensive (and comprehensible) discussion,Cybersecurity: What Every CEO and CFO Should Know – covering the average cost of a cybersecurity data breach in 2017 ($7.5M), discussions around threat actors and their preferred attack vectors, and listing industries most frequently targeted for attack (‘Financial Services’ top the lists in both Average Annualized Cost by Industry Sector andDDoS Attacks by Sector). We highly recommend this piece for review – it can be accessed here.

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