It's becoming clear from some of the replies that a lot of people don't understand the fundamental difference between data breaches and other major cyber security events. Thread:https://twitter.com/MalwareTechBlog/status/1223358543220203521 …
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A data breach is when company data is stolen (most commonly customer PII). Whilst annoying to a lot of people, they generally have little material effect on company revenue. Breaches can sometimes erode customer trust, but the majority of people aren't going to boycott. 1/?
0 proslijeđenih tweetova 24 korisnika označavaju da im se sviđaPrikaži ovu nit -
In cases like Equifax, the public aren't even the customer, they're the product. Most of Equifax's revenue comes from credit providers who will continue regardless, so the public boycotting them would have negligible effect (as many analysts pointed out at the time). 2/?
1 reply 0 proslijeđenih tweetova 24 korisnika označavaju da im se sviđaPrikaži ovu nit -
But measuring cyber security in terms of only data breaches is stupid, because data breaches aren't the sole goal of hackers. If the company has payment card information, it can be stolen and sold in bulk to fraudster, but it's not the most profitable avenue. 3/?
1 reply 0 proslijeđenih tweetova 22 korisnika označavaju da im se sviđaPrikaži ovu nit -
If the company doesn't store card data, then the majority of the time their data has basically no resale value at all. In fact, company data is usually only valuable to the company themselves (enter: ransomware). 4/?
1 reply 0 proslijeđenih tweetova 21 korisnik označava da mu se sviđaPrikaži ovu nit -
Whilst almost any company can recover from a data breach, catastrophic data loss and/or extended outages are completely different ball games. In the past year (without searching) I've noticed 3 separate companies have gone bankrupt due to ransomware. 5/?
1 reply 2 proslijeđena tweeta 25 korisnika označava da im se sviđaPrikaži ovu nit -
Even if the company is able to restore their data, it can still have lasting impacts. Many companies operate on super tight margins and simply can't afford to have a global multi-week long outage. 6/?
1 reply 1 proslijeđeni tweet 19 korisnika označava da im se sviđaPrikaži ovu nit -
Following the Travelex hack, the CEO pledged 50% of the parent company's share as collateral on some old Travelex debt. They claim the hack had no material impact, but re-financing debt a week later doesn't seem like a likely coincidence. 7/?
0 proslijeđenih tweetova 18 korisnika označava da im se sviđaPrikaži ovu nit
A data breach is in most cases a short term drop in share prices due to knee-jerk reactions from traders. Data loss and extended outages directly and sometimes significantly affect profit margins, therefore can lead to long term revenue hits, and even bankruptcy. 8/?
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You just can't use the effects of data breaches on share price as a serious quantification for the value of cyber security. As much as we'd like to think data breaches are the worst thing ever, the market simply does not care. 9/9
8 replies 8 proslijeđenih tweetova 43 korisnika označavaju da im se sviđaPrikaži ovu nitHvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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