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Kim Scott

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Security Breaches Cost Organizations Far More Than Just Money

Posted by Kim Scott on Mar 17, 2017 12:09:26 PM

Data breaches can be very costly and are unfortunately becoming a common trend in the news. Not only do they cost companies millions of dollars in fines, but they can cost enough reputational damage to jeopardize sales. A recent article on Bloomberg.com discusses how last year’s security breach of Yahoo! Inc. forced the company to drop their sale price to Verizon by $350 million dollars. There would likely be additional costs incurred to resolve the issue itself and repair any damage to the brand image. The article even goes on to say that Verizon, at one point, considered cancelling the purchase of Yahoo! Inc. altogether. 

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Topics: Security, Service Management

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