03-31-20 | Blog Post
Did you attend our webinar last week covering security and compliance, business continuity and preparing for a pandemic? If not, that’s ok–you can read about the recap below!
On March 27, Otava hosted a live webinar with Jason Duchnowski, product manager at Otava. Here’s what we covered:
According to the Ponemon Institute, there were 54% more breaches reported in the first half of 2019 than in 2018, with 3,800 reported breaches. As ransomware becomes nearly ubiquitous across every hacker’s arsenal, successful data breaches are growing at a continually accelerated rate and it’s more important than ever for companies to have a strong security stance.
Way back in 2006, the average total breach cost for a company in the US was around 3.5 million. That’s no chump change, but compare that now to the average cost of over 8 million in 2019. That’s a 231% increase. Around the world, the average total cost of a data breach is just under 4 million, with an average of $150 per record cost. The really scary statistic? The average time to identify and contain a breach (known as the breach lifecycle) is 279 days. That’s nearly nine months.
Making the best of limited resources is the age-old question for businesses facing any kind of challenge, and a security-based one is no different. There are three areas to consider when trying to lower the cost of a breach:
To really sum up (TL;DR):
To learn more, check out the full recording and the presentation!