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It also expects about $25 million of the cost to be covered by cyber insurance coverage. The breach began around April 2023 and lasted about five months, affecting nearly half of the 14.1 million ...
Those receiving Medicare should be on the lookout for new mail in the coming weeks. As many as 254,000 Medicare beneficiaries' personal information may have been compromised in a data breach, the...
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 HITECH Act requires entities covered by the Health Insurance Portability and Accountability Act (HIPAA) to report data breaches that affect 500 or more persons to the United States Department of Health and Human Services (U.S. HHS), to the news media, and to the people affected by the data breaches. [23]
The CFPB first became aware of abuse on 14 February 2023. [1] [4] They informed U.S. lawmakers of the incident on March 21, but it was not made public until April 24. [3] [4] [6] Shortly following the data breach, Senator Cruz and Rep Donalds authored a bill seeking to eliminate the CFPB. [7]
Major Companies Impacted by Data Breaches. Cybersecurity Awareness Month brings the financial impact of data breaches into sharp focus. In 2024, the average cost of a data breach soared to $4.88 ...
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]