Cyber Attacks Knock 7.2% Off The Average Company Share Price

Data breaches can cause devastating financial losses and affect an organisation’s reputation for years. From lost business to regulatory fines and remediation costs, data breaches have far reaching consequences. 

IBM Security has calculated that a data breach could wipe as much as 7.2% off a company’s share price. It’s the equivalent of up to $8.8 million in cash terms for UK companies listed on the FTSE 100, or up to $32.3 million for listed US companies on the NASDAQ index.

These figures demonstrated the importance effectively training staff with cyber security training, as most attacks come through phishing emails sent to employees and management.  When an attack has happened ensuring you find the data breaches quickly. On average it takes tech companies 187 days to identify a breach and 59 days to contain it. However, in other sectors that number rises to 246 days to identify and contain.

Listed companies in the US and UK could face a bill of $42.9 billion. This equates to $174.4 million per day, or $5.3 billion per month. These figures do not account for reputational impact, loss of customers or GDPR penalties, so could even be even higher. scandal, including subsequent reputational impact, the value of the company

For example, if Amazon experienced a breach equivalent to the 2018 Facebook Cambridge Analytica breach, its value would drop by a predicted $167.9 billion. In its 2019 annual Cost of a Data Breach report, IBM made similar findings, putting the cost per breach at US$3 million per organisation.

Globally, IBM figures show that the hardest hit sector was healthcare, which faced an average bill of $6.45 million per breach, while the US is the most expensive country in which to suffer a breach, with the average cost there rising to $8.19 million per organisation.

Taking a global perspective, IBM’s report further stated that the average total cost of a breach in the US has increased 130% in 14 years, from $3.54 million in 2006 to $8.19 million in 2019. Consequences of a data breach can be particularly acute for small and midsize businesses. Companies with less than 500 employees often suffered losses of more than $2.5 million on average, a potentially crippling amount for small businesses, which typically earn $50 million or less in annual revenue.

IBM:         Data-Economy:         Data Breach Calculator

You Might Also Read: 

Cybercrime’s Deadly Impact On Business:
 

 

 

« Cyber Security At Schiphol Airport Is Ineffective
The Victims Of Cybercrime In Britain »

CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

Resecurity

Resecurity

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

Clayden Law

Clayden Law

Clayden Law advise global businesses that buy and sell technology products and services. We are experts in information technology, data privacy and cybersecurity law.

TÜV SÜD Academy UK

TÜV SÜD Academy UK

TÜV SÜD offers expert-led cybersecurity training to help organisations safeguard their operations and data.

Directory of Cyber Security Suppliers

Directory of Cyber Security Suppliers

Our Supplier Directory lists 7,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

ZenGRC

ZenGRC

ZenGRC (formerly Reciprocity) is a leader in the GRC SaaS landscape, offering robust and intuitive products designed to make compliance straightforward and efficient.

Hiscox

Hiscox

Hiscox offers cyber and data risks insurance to protect your business against the risks of holding data and using computer systems..

Kent Interdisciplinary Research Centre in Cyber Security (KirCCS) - University of Kent

Kent Interdisciplinary Research Centre in Cyber Security (KirCCS) - University of Kent

KirCCS harnesses expertise across Kent University to address current and potential cyber security challenges.

Cyber Threat Intelligence Network (CTIN)

Cyber Threat Intelligence Network (CTIN)

CTIN provides cyber threat intelligence services including training, platform evaluation, ISAC/ISAO systems development and counter botnet operations.

Cyber Security Austria (CSA)

Cyber Security Austria (CSA)

Cyber Security Austria (CSA) is an independent non-profit association with the aim to address security issues in the area of IT/cyber security of critical/strategic infrastructures in Austria.

ProofID

ProofID

ProofID is a specialist provider of Identity Access Management (IAM) solutions. We focus on the solving the complex needs of the modern enterprise.

ShardSecure

ShardSecure

ShardSecure Microshard technology eliminates data sensitivity, providing security, privacy and compliance beyond encryption.

Secureframe

Secureframe

Companies from startups to enterprises use Secureframe to automate SOC 2 and ISO 27001 compliance, complete audits, and continuously monitor their security.

Mandiant

Mandiant

Mandiant deliver dynamic cyber defense solutions powered by industry-leading expertise, intelligence and innovative technology.

ServerScan

ServerScan

ServerScan specializes in providing server scanning & compliance services to organizations of all types and sizes.

Digital Security by Design (DSbD)

Digital Security by Design (DSbD)

Digital Security by Design is an initiative supported by the UK government to transform digital technology and create a more resilient, and secure foundation for a safer future.

Bluewave

Bluewave

Bluewave are a strategic IT advisory company that offers businesses a simple and comprehensive way to purchase information technology solutions.

Sycope

Sycope

Sycope is focused on designing and developing highly specialised IT solutions for monitoring and improving network and application performance.

Abissi

Abissi

Abissi offer cyber intelligence, IoT security, automotive security, red teaming, application security and artificial intelligence security services, with a focus on security by design.

Rebellion Defense

Rebellion Defense

Rebellion Defense is a technology company developing advanced software to ensure mission-critical organizations stay ahead of emerging threats.

Orca Fraud

Orca Fraud

Orca is an AI-driven fraud orchestration platform. We empower fraud fighters to outpace fraud using our custom ML models.

Academia the Technology Group

Academia the Technology Group

Academia specialise in the supply of software, IT hardware, training and service solutions to the public sectors, business and pro media markets.