The costs of 5 high profile data breaches

I was working on a side project, and I kept running across some interesting statistics regarding the costs associated with some high profile data  breaches.  These include notifying customers and penalties for non-compliance, among other things. For instance, the RSA costs include replacing SecurID tokens. None of these numbers are final at this point, and probably won't be for years.


RSA: $400,000,000
CitiGroup: $2,700,000
Sony: potentially $24,000,000,000 (yikes!)
Epsilon: up to $4,000,000,000
Heartland Payment Systems:$140,000,000 

 

Here's some other interesting statistics that I've recently found:

 

Businesses:  90% suffered data breach during last year

Average Cost of 1 Customer Record Breach: $318 and climbing
Average Total Data Breach Costs: $7,200,000

 

So, what can organizations do to help lower these costs once the barn door has been left open and the horses are running free?  One solution that seems non-intuitive to a lot of companies is simply to take the time to do the proper forensics and only notify the customers whose data was actually accessed. Ultimately, getting it right the first time is both cheaper and more effective. 

Leave a Comment

We encourage you to share your comments on this post. Comments are moderated and will be reviewed
and posted as promptly as possible during regular business hours

To ensure your comment is published, be sure to follow the Community Guidelines.

Be sure to enter a unique name. You can't reuse a name that's already in use.
Be sure to enter a unique email address. You can't reuse an email address that's already in use.
Type the characters you see in the picture above.Type the words you hear.
Search
Showing results for 
Search instead for 
Do you mean 
About the Author


Follow Us
The opinions expressed above are the personal opinions of the authors, not of HP. By using this site, you accept the Terms of Use and Rules of Participation