Hands-On Cybersecurity with Blockchain
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Impact of data breaches

The consequences for businesses that experience data loss of their customers or partner's information, or any other confidential data, are severe and growing. Ponemon Institute, an independent security research company, has conducted a survey of data breach victim organizations to find out the impact of data breaches:

  • Financial loss: Around 113 listed companies that experienced a data breach had their stock price drop an average of 5%, which resulted in a loss of their customer base
  • Brand reputation loss: 61% of CMOs believe that the biggest cost of a data breach is the loss of a brand's value
  • Customer trust loss: Consumers trust financial institutes, healthcare providers, and even government departments, to preserve their personal information and privacy

To get an insight into each impact, take a look at the following Ponemon Institute report from 2017: https://www.centrify.com/media/4772757/ponemon_data_breach_impact_study_uk.pdf.