Bitglass, the Next-Gen CASB company,
released findings today from its latest report:
Kings
of the Monster Breaches. Bitglass researched the three largest data
breaches of publicly traded companies from each of the last three years in
order to uncover cybersecurity trends and demonstrate the extensive damage that
can be done by improper security. Among the incidents detailed in the report
are the Marriott breach of 2018, the Equifax breach of 2017 and the Yahoo!
breach of 2016.
Kings of the Monster Breaches explores the causes, repercussions and
company responses for each of these preeminent breaches. Additionally, it
recaps three of the most significant cybersecurity incidents that affected
government agencies and private companies over the last three years. The
report's findings highlight the similarities between leading breaches and suggest
that organizations have not been learning from the mistakes of their peers.
Key findings:
- The
mean number of individuals directly affected by each breach was 257
million.
- To
date, these breaches have cost their companies an average of $347 million in
legal fees, penalties, remediation costs and other expenses.
- The
average post-breach market cap decrease was $742 million (this excludes
the outlier Facebook breach which lost $43 billion in market cap).
- It
took an average of 46 days for the companies' stock prices to return to
their pre-breach levels - Equifax's stock price still has yet to recover.
"The largest breaches over the past three years have caused massive
and irreparable damage to large enterprises and their stakeholders around the
globe," said Rich Campagna, Chief Marketing Officer of Bitglass.
"This should serve as a stark warning to organizations everywhere. If
massive companies with seemingly endless resources are falling victim to
external attacks, then companies of all sizes must remain vigilant in their
cybersecurity efforts. It is only by taking a proactive approach to security
that breaches can be prevented and data can truly be kept safe."
To learn about the biggest data breaches of the past three years as well as
their devastating repercussions, download the full report here: https://pages.bitglass.com/CD-FY19Q2-Kings-of-the-Monster-Breaches_LP.html