Search results
Results from the WOW.Com Content Network
In 1995, the EU passed the Data Protection Directive (DPD), which has recently been replaced with the 2016 General Data Protection Regulation (GDPR), a comprehensive federal data breach notification law. The GDPR offers stronger data protection laws, broader data breach notification laws, and new factors such as the right to data portability.
The first reported data breach occurred on 5 April 2002 [8] when 250,000 social security numbers collected by the State of California were stolen from a data center. [9] Before the widespread adoption of data breach notification laws around 2005, the prevalence of data breaches is difficult to determine.
It is estimated that the average cost of a data breach will be over $150 million by 2020, with the global annual cost forecast to be $2.1 trillion. [2] [3] As a result of data breaches, it is estimated that in first half of 2018 alone, about 4.5 billion records were exposed. [4]
Cyberattacks on businesses are rising, including small businesses. According to the Verizon 2023 Data Breach Investigations Report, the median cost per ransomware attack — which features a type ...
The data breach occurred in April 2023, and the company learned about the incident in October 2023. The company settled the lawsuits with $30 million related to the breach.
Attacked companies experience public embarrassment, decreased stock prices, lost revenues, employee downtime, and costs of fixing the breaches. In 2022, data breaches cost U.S. companies an ...
According to an IBM report, the average cost of a data breach in 2019 was $3.92 million, while a healthcare industry breach usually costs $6.45 million. However, the average cost of a healthcare data breach (average breach size 25,575 records) in the U.S. is $15 million. [16]
Violation of Article 6(1)(a) GDPR by processing personal data without consent or any other legal basis. When imposing the fine, the AEPD took into account: The type of data affected: basic identifiers such as names, surnames, phone number. The relation between the processing and the business activities of the respondent.