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

Jooble

Jooble

Jooble is a job search aggregator operating in 71 countries worldwide. We simplify the job search process by displaying active job ads from major job boards and career sites across the internet.

Authentic8

Authentic8

Authentic8 transforms how organizations secure and control the use of the web with Silo, its patented cloud browser.

The PC Support Group

The PC Support Group

A partnership with The PC Support Group delivers improved productivity, reduced costs and protects your business through exceptional IT, telecoms and cybersecurity services.

LockLizard

LockLizard

Locklizard provides PDF DRM software that protects PDF documents from unauthorized access and misuse. Share and sell documents securely - prevent document leakage, sharing and piracy.

Cyber Security Supplier Directory

Cyber Security Supplier Directory

Our Supplier Directory lists 6,000+ specialist cyber security service providers in 128 countries worldwide. IS YOUR ORGANISATION LISTED?

Global Knowledge Training

Global Knowledge Training

Global Knowledge is a worldwide leader in IT and business training, featuring Cisco, Microsoft, VMware, IBM, security, cloud computing, and project management.

National Cyber Security Centre (NCSC) - United Kingdom

National Cyber Security Centre (NCSC) - United Kingdom

The NCSC acts as a bridge between industry and government, providing a unified source of advice, guidance and support on cyber security, including the management of cyber security incidents.

Cofense

Cofense

Cofense (formerly PhishMe) is a leading provider of human-driven phishing defense solutions.

Cyber Aware

Cyber Aware

Cyber Aware aims to drive behaviour change amongst small businesses and individuals, so that they adopt simple secure online behaviours.

RHEA Group

RHEA Group

RHEA Group offers aerospace and security engineering services and solutions, system development, and technologies including cyber security.

Recovery Point Systems

Recovery Point Systems

Recovery Point is a leading national provider of IT secure and compliant infrastructure and business resilience services.

Internet Infrastructure Investigation

Internet Infrastructure Investigation

Internet Infrastructure Investigation offers a bespoke Internet Governance Solution to your brands online infringement problems.

Blue Hexagon

Blue Hexagon

Blue Hexagon is a deep learning innovator focused on protecting organizations from cyberthreats.

Cyber Range Solutions (CRS)

Cyber Range Solutions (CRS)

CRS provides cyber security training and improve security team performance by providing a hyper realistic, virtual training environment.

UncommonX

UncommonX

UncommonX offers enterprise-class cybersecurity protection for mid-size organizations by combining adaptive threat and intelligence software with 24/7 industry experts.

Cardonet

Cardonet

Cardonet is an IT Support and IT Services business offering end-to-end IT services, 24x7 IT Support to IT Consultancy, Managed IT and Cyber Security.

Cyral

Cyral

Easily observe, control, and protect your data endpoints in a cloud and DevOps-first world. Discover Data Mesh Security with Cyral.

Flexxon

Flexxon

Flexxon is the industry leader to develop NAND flash storage devices. Our key focus is to innovate memory devices ensuring data security and reliability.

SolidityScan

SolidityScan

SolidityScan is an advanced smart contract scanning tool designed to uncover vulnerabilities and proactively address risks within your code.

Fescaro

Fescaro

FESCARO is a trusted cybersecurity partner for global automakers and their partners, helping them transition to software-defined vehicles (SDVs) with tailored automotive software solutions.

InnovateHer

InnovateHer

At InnovateHer, our vision is to make the tech sector more equitable, by increasing diversity across the spectrum and creating more inclusive workplaces.