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- Trend snippet: The business impacts of security breaches
Trends in Security Information
The HSD Trendmonitor is designed to provide access to relevant content on various subjects in the safety and security domain, to identify relevant developments and to connect knowledge and organisations. The safety and security domain encompasses a vast number of subjects. Four relevant taxonomies (type of threat or opportunity, victim, source of threat and domain of application) have been constructed in order to visualize all of these subjects. The taxonomies and related category descriptions have been carefully composed according to other taxonomies, European and international standards and our own expertise.
In order to identify safety and security related trends, relevant reports and HSD news articles are continuously scanned, analysed and classified by hand according to the four taxonomies. This results in a wide array of observations, which we call ‘Trend Snippets’. Multiple Trend Snippets combined can provide insights into safety and security trends. The size of the circles shows the relative weight of the topic, the filters can be used to further select the most relevant content for you. If you have an addition, question or remark, drop us a line at info@securitydelta.nl.
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The business impacts of security breaches
Large enterprises (10K or more employees) are more likely to have less downtime (0-4 hours), as they will likely have more resources available to help respond and recover . Small to mid-sized organizations dominated the 5-16 hour recovery timespan, and catastrophic downtimes of 17-48 hours were similarly low for organizations of all sizes.
The most impacted business areas were operations and brand reputation.
the number of respondents experiencing a hit to brand reputation from major breaches has risen from 26% to 33% in three years. With the impact to the overall brand on the rise, it’s crucial to include crisis communications planning into your overall incidence response plan.
What can measuring the business impact of security breaches tell you?
In our survey, we asked about various breach impacts including downtime, records, and finances.
To what extent are organizations having to endure downtime from major breaches? We compared different organizational sizes, and the results were very similar across the board . Large enterprises (10K or more employees) are more likely to have less downtime (0-4 hours), as they will likely have more resources available to help respond and recover.
Small to mid-sized organizations dominated the 5-16 hour recovery timespan, and catastrophic downtimes of 17-48 hours were similarly low for organizations of all sizes (Figure 4).
Organizations having more than 100,000 records impacted from their most severe data breach rose from 15% last year to beyond 19% this year .
In addition, as Figure 5 shows, a major breach can impact nine critical areas of an organization. The most impacted business areas were operations and brand reputation, followed by finances, intellectual property, and customer retention.
Looking at previous years, we see that the number of respondents experiencing a hit to brand reputation from major breaches has risen from 26% to 33% in three years. Those experiencing an impact to operations has remained steady between 36-38% of respondents. And those experiencing an impact to finances has decreased just one percentage point per year for the last three years – so also remaining relatively steady. With the impact to the overall brand on the rise, it’s crucial to include crisis communications planning into your overall incidence response plan.