Are You at Risk of Losing $4 mln?


2016-11-09, 14:10 Posted by: Katarzyna Gajda

According to an IBM report a data breach can cost on average $4 million. But it's not the only loss a company can suffer by not taking all necessary precautions to protect data. Many businesses have suffered such losses including huge financial repercussions, bad reputation and in some cases they even had to cease trading.

Data protection has become such a huge discipline that many companies don’t have the right resources to combat hacking efforts.  Even having a highly qualified IT team does not fully resolve the issue of security. Auditing office security and staff behavior in regards to sensitive data as well as preventing cyberattacks is a huge responsibility for organizations. Let’s take a closer look at some devastating data breaches and their dire consequences. 

1. Epsilon

Year of breach: 2015

Number of records affected: 60-250 million

Financial losses: $4 billion

50 client databases were compromised which led to a leak of around 60 million addresses. Best Buy, JPMorgan Chase, Capital One Bank, and Verizon were all amongst the victims and suffered terrible financial consequences.

 

2. Experian

 Year of breach: 2012
Number of records affected: 200 million

Financial losses: unknown

Experian – a huge credit bureau which purchased Court Ventures, a firm that handled and managed public record data. They continued reselling data to a third party without Experian’s knowledge. A Vietnamese hacker managed to use the purchased personal information of 200 million individuals.

 

3. U.S. Voter Database

Year of breach: 2015
Number of records affected: 191 million

Financial losses: unknown

Breach exposed names, addresses, birth dates, party affiliations, phone numbers, and emails of voters in all 50 U.S. states and Washington.

 

4. NASDAQ

Year of breach: 2005 - 2012
Number of records affected: More than 160 million

Financial losses: unknown

Foreign hackers stole more than 160 million credit and debit card numbers, targeting more than 800,000 bank accounts. NASDAQ servers were also compromised.

 

5. eBay

Year of breach: 2014
Number of records affected: 145 million

Financial losses: $200 million

 Hackers gained access to a database holding eBay customers’ names, home addresses, dates of birth, and encrypted passwords. The company spent $200 just to cover law suits and compensations.

 

6. Heartland payment Systems

Year of breach: 2008-2009
Number of records affected: 130 million

Financial losses: $110 million

More than 250,000 businesses nationwide were affected after the 130 million credit and debit card records of major credit card companies were stolen by hackers. Once again, the company suffered dire consequences losing over $110 million.

 

7. Target Stores

Year of breach: 2013 & 2014
Number of records affected: 30 million & 70-110 million

Financial losses: $148-162

 The credit and debit card numbers of 30 million customers were stolen during the 2013 post-Thanksgiving shopping surge. In 2014, 70-110 million customers were compromised when full names, addresses, email addresses, and telephone numbers were hacked, many of whom had lost their credit and debit card information in the previous data breach.

 

8. Sony Online Entertainment Services

Year of breach: 2011
Number of records affected: 102 million

Financial losses: up to $1.5 billion

Hackers obtained the login credentials, names, addresses, phone numbers, and email addresses for users on the PlayStation Network, Sony Online Entertainment, and Qriocity video- and music-streaming services. 23,400 Sony Online Entertainment users in Europe had their credit-card data stolen.

 

9. Anthem

Year of breach: 2015
Number of records affected: 69-80 million

Financial losses: $100 million

Anthem, one of the biggest health insurers in America leaked names, addresses, dates of birth, social security numbers, and employment histories of its customers in a data breach that affected more than 80 million individuals.

 

10. The Home Depot

Year of breach: 2014
Number of records affected: 56 million

Financial losses: $40 million

The company handled info for more than 2,500 clients globally—including seven Fortune 10 companies. Hackers got a hold of records of 50 Epsilon clients, exposing between 60 and as many as 250 million emails. Breach affected companies such as Best Buy, JPMorgan Chase, Capital One Bank, and Verizon.

 

Source: Acuant


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