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DATA BREACHES
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Are You Prepared?
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45%
of senior executives say their company experiences
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cyber attacks hourly or daily.
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Last year, over 1 BILLION
accounts were compromised.
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Data breaches can be costly to an organization’s bottom line

The global average cost of each data breach was $3.5 million USD,
a 15% rise from last year.

Countries with the Highest Total Average Costs (USD)

United States of America $5.85M

Germany $4.74M

France $4.19M

United Kingdom $3.68M


United Arab Emirates
& Saudi Arabia $3.12M

Italy $2.69M

Australia $2.59M

Japan $2.36M

0 1 2 3 4 5 6

Reasons for Breaches

42% 29%
Malicious or Criminal
Attack 30%
Human Error
System Glitch

The second leading root cause of a data breach is Human Error


which reinforces the need for Data Privacy and Security Training.

Top 3 Types of Data Breaches

Account Access Financial Access Identity Theft

Consequences of Data Breaches


//
> Business disruption
> Reputational damage
> Loss of customer loyalty
> Business opportunity losses
> Fines, penalties and legal fees
> Criminal prosectutions
> Compensation claims from individuals who have suffered damage

Global Regulations Are Expanding

EU US China
General Data Protection Data Security and Breach Measures for Penalties for
Regulation (GDPR) Notification Act of 2015 Infringing Upon the Rights
A fine of up to 5 percent of a Current bill establishes criminal and Interest of Consumers
company’s annual worldwide penalties and/or imprisonment Penalties include confiscation
revenue or up to €100M for up to 5 years of illegal gains, fines up
Executive Order Authorizes to 10 times the amount of
Sanctions Against any illegal gain, $500,000
Cybercriminals RMB if no illegal gains
US officials may seize US funds were produced, suspension
of sanctioned individuals or of business operations or
entities, and ban them from revocation of business license
the US financial system

Tips to Minimize Your Risk of Data Breach

Conduct Customer Stay Aware of the Implement Employ Training


and Third Party Risk Global Regulatory Safeguards & Awareness
Assessments Environment Programs
Identifying vulnerabilities Ensure your organization’s Create clear internal Mistakes made by employees
and likely threats early help current data privacy and policies and procedures in are a frequent cause of
prioritize preventative and security measures are in dealing with a potential data breaches. To help
response activities to reduce line with the latest global data breach. Track your mitigate this risk, provide
the chances attackers will be regulations on cybersecurity staff’s understanding of your employees and other
successful in their goals. with Thomson Reuters policy updates and amend stakeholders who have
Conducting risk assessments Regulatory Intelligence. those policies to reflect new access to sensitive data with
using Risk Management regulatory changes with proper compliance training
Solutions from Thomson Thomson Reuters Policy with Thomson Reuters
Reuters and monitoring Manager. Compliance Learning.
existing relationships to
ensure ongoing compliance,
is an essential part of a risk
based approach.

SOURCES:
https://www.business-cloud.com/articles/news/safenet-claims-183-million-accounts-compromised
http://www.ponemon.org/blog/ponemon-institute-releases-2014-cost-of-data-breach-global-analysis
http://techcrunch.com/2015/03/26/adapting-to-the-changing-global-enterprise-security-landscape/
https://www.congress.gov/bill/114th-congress/senate-bill/177
http://www.businesstimes.com.sg/government-economy/help-for-singapore-smes-to-understand-
personal-data-protection-law
© 2015 Thomson Reuters  GRC02844/7-15