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Breach costs: ‘Chump change’ to bottom lines of big players

Discussion in 'CSO' started by RSS, Jun 8, 2015.

  1. RSS

    RSS New Member Member

    Virtually everything reported about data breaches is about how expensive they are.

    But apparently not for everybody. CBS MoneyWatch reported recently that one of the prime reasons the biggest companies don’t address their security vulnerabilities is that the cost of a breach – even what is viewed as a catastrophic breach – amounts to “chump change” as a percentage of overall revenue.

    One example cited was the 2014 Home Depot breach, when hackers were able to steal 56 million credit and debit card numbers and 53 million email addresses. It cost the company, “only a net $28 million, after a $15 million insurance payment. That's less than 0.01 percent of the company's 2014 revenue,” the report said. It also apparently cost only 50 cents per card compromised.

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