JEDDAH – Gemalto, the world leader in digital security, released the latest findings of the Breach Level Index, a global database of public data breaches, revealing 918 data breaches led to 1.9 billion data records being compromised worldwide in the first half of 2017. Compared to the last six months of 2016, the number of lost, stolen or compromised records increased by a staggering 164%. A large portion came from the 22 largest data breaches, each involving more than one million compromised records. Of the 918 data breaches more than 500 (59% of all breaches) had an unknown or unaccounted number of compromised data records.
“IT consultant CGI and Oxford Economics recently issued a study, using data from the Breach Level Index and found that two-thirds of firms breached had their share price negatively impacted. Out of the 65 companies evaluated the breach cost shareholders over $52.40 billion,” said Jason Hart, Vice President and Chief Technology Officer for Data Protection at Gemalto. “We can expect that number to grow significantly, especially as government regulations in the US, Europe and elsewhere enact laws to protect the privacy and data of their constituents by associating a monetary value to improperly securing data. Security is no longer a reactive measure but an expectation from companies and consumers.”
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