Sealpath. Probability and cost of a data breach

All sales people we face with CIOs, CTOs, CISOs, IT Managers when they make the question: How much does it cost this solution? This kind of situations it’s part of our average day. In order to understand the worthy of the investment for the companies, we have to speak about the value of data breaches.

We all have heard about data breaches. The frequency of this type of news are getting more and more popular. But, how much does it cost a Data Breach in a company? This question doesn’t have an accurate simple answer.

Average cost of data breaches and impact

The are many research who speaks about the costs of this issue. These studies have different ranges depending on the size of the breach (between $ 5 Million for fewer than 10. 000 records till $ 13M when it’s more than 50.000 records). There are other factors like if the data was encrypted, field of industry, type of data.
We also have to make differences in the impact of the attacks. There are direct costs coming from penalties fees, loses of current clients. But there is also another impact on reputation loses, resignation of directives which would make the company years to recover.
Probablity

As much as we read this type of the news, we should consider about the probability that we suffer this type of issues. A recent study of Ponemon Institute, “Ponemon Institute’s 2017 Cost of Data Breach Study“, was showing the following results:

• Probability of getting stuck by a lightning: 1 in 960.000.
• Probability of dating with a millionaire: 1 in 220.
• Probability of experiencing a data breach: 1 in 4.

How can you save costs with Sealpath in the event of a data breach?

We were speaking about the different costs and impact in the event of data breach.

This is how Sealpath is able to help you:

• Encryption: All your files will be encrypted, so even if it goes in the wrong hands it will be intangibles for the unauthorized people.
  Extensive use of encryption can save $ 16 per record and $ 385 k per breach.
• Access control at any time wherever the data travel: It’s possible to control remotely who has access, when and what to the data.
  Having board – level involvement can save $ 5.10 per record and $ 123 k per breach.
• Auditory and tracking: Control who is accessing and what and verify if unauthorized user is trying to access.
• Remotely “destroy the files”: You would be able to lock or block the files by remote control.

If you are interesting in a trial license, we will schedule a demo by the following link: Trial demo.

You can read the original article, here.

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