We now know more than we’ve ever known about the true cost of a data breach. In addition to survey-based research, costs are discussed openly in quarterly reporting calls, made available via court documents, reported in the news, and apparent on stock indexes. The available information has taught us that data breach cost totals are staggering.
So, just what is the real cost of a data breach? To help answer this question, here is a look at several recent and past headline-making incidents.
May 13, 2019, SC Magazine: Equifax data breach recovery costs pass $1 billion. According to the story:
In Equifax’s latest Security and Exchange Commission filing the company is estimating it has spent about $1.4 billion recovering from its 2017 data breach that exposed the PII of 148 million customers, according to a published report.
May 15, 2019, Info Security Magazine: Companies' Stock Value Dropped 7.5% after Data Breaches. This is a story about a study of how breaches impacted Marriott, Equifax, and Yahoo! According to the news:
Publicly traded companies suffered an average drop of 7.5% in their stock values and a mean market cap loss of $5.4 billion per company, and it reportedly took 46 days, on average, for those stock prices to return to their pre-breach levels. To date, the stock price of Equifax has not yet recovered.
March 29, 2018, CNBC: Under Armour says data breach affected about 150 million MyFitnessPal accounts. According to this story:
Shares of Under Armour dropped 3.8 percent, before paring losses, after the active-wear company informed users of its on ..