Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cloud

1/22/2018
04:05 PM
50%
50%

Most Companies Suffer Reputation Damage After Security Incidents

New Kroll Annual Global Fraud & Risk Report says 86% of companies worldwide experienced security incidents and information theft and loss in the past twelve months.

Seventy percent of organizations worldwide suffered at least one security incident during the past year - up from 68% in the previous year, a new study by Kroll found.

Meanwhile, security incidents and information theft and loss hit some 86% of companies in the past twelve months. The new 2017/18 Kroll Annual Global Fraud & Risk Report also shows that physical theft or loss of intellectual property most commonly occured these security incidents, at 41%.

"People instinctively think about data being targeted by cyber attacks, but not all threats to information are confined to the digital realm. There is a convergence between physical and digital threats, with issues arising from equipment with sensitive data being stolen or lost, for example, or employees with access to highly sensitive information accidentally or intentionally causing a breach," said Jason Smolanoff, senior managing director and global cyber security practice leader for Kroll.

Nearly two-thirds of companies said incidents due to fraud (65%), cyber (67%), or security (66%) incidents had damaged their reputations. Some 23% say their company suffered losses of 7% or more in revenues.

Read the full report here

 

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Marilyn Cohodas
50%
50%
Marilyn Cohodas,
User Rank: Strategist
1/23/2018 | 1:04:58 PM
Re: Please correct the link to the report
Thanks, Jason. The link has been fixed. 
JasonofB
50%
50%
JasonofB,
User Rank: Apprentice
1/23/2018 | 11:44:41 AM
Please correct the link to the report
It points to the C drive of the author.
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
1/23/2018 | 8:24:57 AM
7% is tough but...
7% loss is a rough hit to take financially however brand reputation is monumental amongst many industries and can cripple your business. Just look at Arthur Andersen, the firm that was in charge of Enron auditing. Based on negative brand reputation due to unethical practices there big 5 firm was driven to extinction.
7 Truths About BEC Scams
Ericka Chickowski, Contributing Writer,  6/13/2019
DNS Firewalls Could Prevent Billions in Losses to Cybercrime
Curtis Franklin Jr., Senior Editor at Dark Reading,  6/13/2019
Cognitive Bias Can Hamper Security Decisions
Kelly Sheridan, Staff Editor, Dark Reading,  6/10/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Building and Managing an IT Security Operations Program
As cyber threats grow, many organizations are building security operations centers (SOCs) to improve their defenses. In this Tech Digest you will learn tips on how to get the most out of a SOC in your organization - and what to do if you can't afford to build one.
Flash Poll
The State of IT Operations and Cybersecurity Operations
The State of IT Operations and Cybersecurity Operations
Your enterprise's cyber risk may depend upon the relationship between the IT team and the security team. Heres some insight on what's working and what isn't in the data center.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-12855
PUBLISHED: 2019-06-16
In words.protocols.jabber.xmlstream in Twisted through 19.2.1, XMPP support did not verify certificates when used with TLS, allowing an attacker to MITM connections.
CVE-2013-7472
PUBLISHED: 2019-06-15
The "Count per Day" plugin before 3.2.6 for WordPress allows XSS via the wp-admin/?page=cpd_metaboxes daytoshow parameter.
CVE-2019-12839
PUBLISHED: 2019-06-15
In OrangeHRM 4.3.1 and before, there is an input validation error within admin/listMailConfiguration (txtSendmailPath parameter) that allows authenticated attackers to achieve arbitrary command execution.
CVE-2019-12840
PUBLISHED: 2019-06-15
In Webmin through 1.910, any user authorized to the "Package Updates" module can execute arbitrary commands with root privileges via the data parameter to update.cgi.
CVE-2019-12835
PUBLISHED: 2019-06-15
formats/xml.cpp in Leanify 0.4.3 allows for a controlled out-of-bounds write in xml_memory_writer::write via characters that require escaping.