However, businesses can also experience a swift and brutal shock caused by the impact of a data breach on their share price. A drop in stock value can indicate broken investor trust and be caused by cybersecurity incidents, especially when they reveal a lack of adequate care or security ...
Even when a rival hotel experiences a data breach, customers of the focal hotel may feel vulnerable as well. Nevertheless, firms have little insight into the potential impacts of a data breach on customers and the corresponding recovery strategies. For this study, the joint effect of data ...
The recentSolarwindsbreach has shown that cybercrime is a rapidly increasing threat to businesses and has become an inevitability. The business impact can range from loss of data to damaged consumer confidence and significant financial liabilities. While investing in cyber security is critical, there’...
My answers stressed the importance of addressing the concerns of affected stakeholders as opposed to the general public; and of focusing on negative reputation as opposed to positive reputation. The reputational impact of a data breach, I argued, depends mostly on two factors: how competently a ...
Using a sample size of 38 information security breaches, E-Commerce firms resulted in more negative abnormal stock returns than Brick and Mortar firms. While data breach announcements did not significantly impact retail firms as a whole, they did have a significant impact when broken into the ...
Estimating the average financial impact of a data breach We asked businesses to divide their recovery cost into several categories, in order to better estimate the overall impact of a security breach, which almost always goes beyond the need to hire additional IT resource. The typical loss for ...
One of the reasons is that US authorities have taken a stricter approach to data breaches, and now that GDPR has been in force in Europe for over a year, the consequences of a data breach reach beyond the initial public outcry, temporary dip in the stock price and perhaps a couple of ...
By applying response actions of a response strategy in a data breach announcement, a company can mitigate these conse-quences. However, the literature reveals an inconsistent landscape regarding the effect of response actions on customers or investors. Using an event study, we show that the ...
The company has set up aFAQ pagefor customers that states the initial breach was discovered in late July 2022 and that by August 4 they had determined personal data was exfiltrated from “some of Samsung’s U.S. systems.” The news was made public a month later on Friday, September 2....
Mitigate breach impact by protecting your data as it is used across applications, organizations and different environments.