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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]
The chart above shows the total cost of data breaches from 2015 to 2020. In 2015 it totalled to $5.32,2016 to 6.03, in 2017 to $5.78 million, 2018 to $6.11 million, in 2019 to $5.95 million, and ...
The first data breach occurred on Yahoo servers in August 2013 [1] and affected all three billion user accounts. [2] [3] Yahoo announced the breach on December 14, 2016. [4] Marissa Mayer, who was CEO of Yahoo at the time of the breach, testified before Congress in 2017 that Yahoo had been unable to determine who perpetrated the 2013 breach. [5]
In 2016, researcher Sasha Romanosky estimated that while the mean breach cost around the targeted firm $5 million, this figure was inflated by a few highly expensive breaches, and the typical data breach was much less costly, around $200,000. Romanosky estimated the total annual cost to corporations in the United States to be around $10 billion.
Data breaches are happening at an alarming rate as more and more data is stored in the cloud. In 2023, 82% of breaches involved data stored in the cloud, according to an IBM report as reported by ...
Columbus pledges $3 million more to fix data breach. WCMH. ... $3 million of that is new funding approved at council’s meeting Monday to cover costs through the rest of the year.
On September 7, 2017, Equifax disclosed the breach and its scope: affecting over 140 million Americans. [24] VentureBeat called the exposure of data on 140+ million customers "one of the biggest data breaches in history." [25] Equifax shares dropped 13% in early trading the day after the breach was made public. [26]
The 2014 JPMorgan Chase data breach was a cyberattack against American bank JPMorgan Chase that is believed to have compromised data associated with over 83 million accounts—76 million households (approximately two out of three households in the country) and 7 million small businesses. [1]
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