According to a recent report, it takes approximately seven months before a company recognizes that it’s been or being hacked. And that’s seven months too long. As reported before, the volume of security threats that organizations deal with regularly are enormous, and that number is more likely to increase than decrease in the future.
Examples of major companies that have been hacked in recent times are Sony’s movie studio and Apple. The attack Sony suffered last year cost the company tens of millions of dollars, along with the exposure of sensitive data and trade secrets. Naturally, it also tarnished Sony’s reputation when it came to security. Apple, on the other hand, experienced a much-publicized breach when hackers were able to access the iCloud accounts of celebrities such as Jennifer Lawrence and Kate Upton. Hundreds of nude images were leaked online and Apple’s security capabilities were put in question as a result.
In Australia, Russian scammers were detected to have been trying to rip money from the online share trading accounts of Morgan Stanley and Commsec, which are two of the country’s biggest brokers. Corporate watchdog ASIC and the Australian Federal Police have been investigating the hacking.
These stories have barely scratched the surface of the damage being caused by hackers. However, these should serve as prime examples of how security attacks can have adverse effects on finances and consumer confidence, among others. Again, all of these show just how important security is to a company.
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