The Increased Business Risk from a Data Breach:
With organizations undergoing digital transformation, data, and the businessís ability to leverage it, has become a key component of the businessís strategic advantage. A lot of that data falls under various privacy regulations, from the European GDPR to localized state-wide privacy regulations to market-segment-specific regulations such as HIPAA (healthcare) and NYDFS Cybersecurity (financial).
Government regulators across the world have made it clear that by profiting from userís private data, businesses also take on the responsibility of guarding that data from unauthorized access, whether internal or external. At the same time, businesses face the reality that in the long run, a data breach is inevitable, and they must design for failure, planning for the day after the data breach.
The risk of a data breach is even higher in light of the massive credentials theft from insecure websites, and the realization that many users reuse their corporate passwords, effectively poking a hole in the perimeter defenses of the data infrastructure. The 2017 Verizon Data Breach Incident Report places the number of stolen credentials at 1 Billion, while the McAfee Cloud Adoption and Risk Report shows that 92% of organizations surveyed had their credentials for sale on the dark web