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Global Cost of Cyber Crime to Hit $6 Trillion in 2016

The global cost of cyber crime, according to a recent study by Cybersecurity Ventures and the Ponemon Institute, could reach $6 trillion before the end of 2016. While $6 trillion may seem a little high, more than a trillion isn’t unlikely either. A report out by Cybersecurity Ventures predicts global annual cybercrime costs will grow […]

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The Risks from Non-Sensitive Information Released in Data Breaches

By now, the story of  Wired’s Mat Honan epic hack is all over the web.  Hackers were able to use publicly available information about Mat to socially engineer both Amazon and Apple’s security system to gain access to his whole digital life.   Slashing and burning as they went, the hackers destroyed Mat’s digital life on […]

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Financial Management of Cyber Risk

This past week, the Internet Security Alliance (ISA) and the American National Standards Institute (ANSI) released a groundbreaking document that is aimed at assisting the Chief Financial Officer of major corporations and organizations in managing the financial risks inherent in protecting an organization from cybercrime. Titled “The Financial Management of Cyber Risk: An Implementation Framework […]

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Customer Churn Main Data Breach Cost Driver

The Ponemon Institute released their 5th annual 2009 Annual Study: Cost of Data Breach last month.  This year, the report explored several new areas and came up with some interesting and in some cases surprising conclusions. These include: – A large proportion (82%) of organizations surveyed experienced at least one data breach of 1,000 or […]

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2010: The Year of the Healthcare Data Breach

An article today on iHealthbeat titled “Innovation Inspired by Economics: 2010 Health IT Forecast” discusses trends and expectations for growth in healthcare information technologies despite the financial issues faced by many US healthcare providers currently. “Necessity being the mother of invention, a constrained economic environment will lead to health IT innovations in two ways. First, […]

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Measuring Data Breach Risk

In recent months, with the continued growth in highly public data breach incidents, we began looking at how organizations assess their level of exposure to data breach risk. I suspect if you ask the CEO of most public companies or public sector organizations about their level of risk, that they would tell you that they […]

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Data Breach Causes Shareholder Value Decline

This past week, Heartland Payment Systems (HPY) announced that a system they use to process over 100 million payment card transactions per month had been hacked during 2008 and that intruders may have had access to personal information of cardholders for over several months. USA’s article on this topic titled Hackers breach Heartland Payment credit […]

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