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5/8/2018
02:00 PM
Jeremy Wittkop
Jeremy Wittkop
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Properly Framing the Cost of a Data Breach

The expenses and actions typically associated with a cyberattack are not all created equal. Here's how to explain what's important to the C-suite and board.
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Chart 1: Sample data breach costs based on estimates from current studies. (Source: Jeremy Wittkop)
Chart 1: Sample data breach costs based on estimates from current studies. (Source: Jeremy Wittkop)

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REISEN1955
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REISEN1955,
User Rank: Ninja
5/8/2018 | 2:22:01 PM
All good points .... but
Remember the attitude of the Equifax C-Suite when the CEO blamed the entire catastrophe on ONE, JUST ONE, IT staffer who failed to perform an update.  Lunacy and ignorance all combined into one stupid comment.  If THIS is the attitude and understanding C-Suite has of IT as a business practice, then all your points are worthless.  Oh, BTW - staffers are always cheaper in Bangalore too. 
jeremy_wittkop
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jeremy_wittkop,
User Rank: Author
5/9/2018 | 2:58:01 PM
Re: All good points .... but
Thank you for the comment! I understand the frustration when ridiculous comments such as that are made by members of leadership who should know that if one individual can cause the entire program to fail, it is the program that is broken. I also understand the frustration of the general public when Equifax's board of directors were re-elected after the breach. I would suggest that the root of the problem with Equifax is that they have a business model that is compulsory for data subjects. These types of issues are the reason that data privacy regulations are being passed in major markets around the world.

I would suggest from my conversations with executive leadership that organizations that must ask for permission from data subjects to gather their information and who ultimately must win their business, that those organizations are much more sensitive to how they handle personal information. Ultimately, we are in a consumer-driven economy. If the general public decides that they ways in which companies secure their personal data will impact their purchasing decisions, the business community will identify those trends and respond accordingly.
managedoutsource
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managedoutsource,
User Rank: Apprentice
6/18/2018 | 5:01:35 AM
Thank you for sharing
While all kinds of data breach can be expensive, it was great for this article to break this down for better understanding.
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