5 Cyber Risks That Will Define 2020
2019 was a bad year just for data security. By virtually every metric, it was the worst ever. Based on the Ponemon Institute’ s 2019 Price of a Data Breach Report, the common cost of a data breach reached $3. 92 mil , the highest amount on report. At the same time, the number of data breaches can reach an all-time high this season. The number of data breaches increased by 54% in the first half of 2019, along with nearly 4, 000 publicly revealed breaches during that time. In total, greater than 4. 1 billion records have already been exposed this year.
Increasingly, consumers plus regulatory bodies are holding businesses accountable for data breaches. An Oct 2019 survey found that 81% of consumers would prevent engaging with a brand online after a data breach, meaning the brand erosion and reputational damage that accompanies an infringement is likely to add to the costs of an information security incident. Moreover, regulatory oversight like GDPR plus CCPA are a sign of a growing regulatory trend that will collectively raises the importance of data safety in the year ahead.
For those billed with protecting company data, today’ s expansive threat landscape may feel overwhelming, leading to increased ranges of exhaustion plus burnout . However , not all risks are equally prescient, as some tend to be more likely and ominous than other people.
Here are five cyber risks which will endanger company data in 2020.
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