Trusted Internet Blog

Thoughts, Guidance, Musings

IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years

on Jul 23, 2019 1:47:19 PM By | Jeff Stutzman, Founder | 0 Comments | data breach equifax identity theft ibm
What does a Data Breach cost?
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Equifax - The Cost of a Data Breach

on Jul 22, 2019 7:50:23 AM By | Jeff Stutzman, Founder | 0 Comments | data breach equifax Federal Trade Commission
(Federal Trade Commission) In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. Under a settlement filed today, Equifax agreed to spend up to $425 million to help people affected by the data breach. If you were affected by the Equifax breach, you can't file a claim just yet. That's coming. But you can sign up for FTC email alerts about the settlement at ftc.gov/Equifax .
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What is a Data Breach?

What is a data breach? According to CBR online, 4.5 billion records were compromised in data breaches within the first 6 months of 2018. In comparison, there are merely about 7.5 billion people living on the planet. What is a data breach and why should you care about it? A data breach refers to the act of obtaining someone’s sensitive information from the internet. This information could be your passwords, sensitive media, PIN, credit card numbers, license numbers, software access to your company; virtually any piece of information that you’ve stored on the internet. This information is then used for blackmailing purposes or sold on the dark web. Data breaches occur on almost a daily basis. Last year hackmegeddon (one of my favorite stats sites) reported 1337 compromises.  This represents a very small number compared to the global dataset, but represents a strong enough sample for discussion purposes. 
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