One of the most feared phrases in the English language today, data breaches can lead to the exposure of valuable information that can cost targeted businesses millions of dollars to rectify. And surprisingly, executing a breach is cheap – a $20 piece of malware can cause tremendous losses for organizations.
According to a recent IBM/Ponemon study, it costs organizations about $150 for each record lost or stolen in a breach; in addition, the average consolidated total cost of a data breach in 2014 was $3.8 million, which represents a 23% increase since 2013.
What's more, 317 million new pieces of malware, computer viruses or other malicious software were created in 2014, according to Verizon's 2015 Data Breach Investigations Report. So who are the masterminds behind the attacka?
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
