Published on November 17th, 2015 | by Guest


2014: Year of the Mega Data Breach

In 2014, data breaches repeatedly made headlines, as major corporations like eBay, JPMorgan Chase, and Home Depot all leaked their customers’ private information. It’s no wonder that each data breach demanded serious press time, given the massive number of companies and consumers affected. The eBay data leak, for instance, reached an estimated 145 million households, while the JPMorgan Chase data breach affected about 76 million people. The JPMorgan Chase incident also impacted about 7 million small businesses.

Many people don’t realize that malware is one of the biggest contributors to data breaches. Since malware can be so insidious, these snippets of code can slowly and quietly steal data from companies over time without detection. In 2014, Michaels leaked data for 11 months until IT professionals discovered malware on the company’s servers. Allowing such long periods to pass before discovery can be devastating for large companies. After five months of data leakage, Home Depot compromised 56 million credit and debit cards.

With the number of people and businesses affected, it’s no surprise that data breaches can be incredibly expensive for many companies. A particularly large Community Health Systems data breach, for example, cost the company up to $150 million, while the extensive Home Depot data breach cost the company more than $60 million in damages. Although these are some of the biggest data breaches of 2014, the average cost per data leak is approximately $3.5 million. Altogether, the U.S. loses about $525 million to cybercrime each year.

Data breaches cost companies much more than fraudulent charges and profit loss. Many affected companies feel the biggest losses in brand value, market image, and reputation, all of which can be expensive to repair. Study this Top Ten Reviews infographic for more stats on some of the biggest data breaches of 2014.

Like this post? Share with your friends.
Share on Facebook0Tweet about this on TwitterShare on Google+0Share on LinkedIn0Share on Reddit0Share on Tumblr0Share on VKEmail this to someone

Tags: , , , , , ,

About the Author


Contribution of guest authors towards Techno FAQ blog

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top ↑
  • Software We Love

  • Latest posts

  • Advertisement

  • Browse by category

  • Recent comments

  • Advertisement

  • Subscribe to updates

    You can get the latest posts from Techno FAQ delivered to you via Email or RSS.

    Enter your email address:

  • Subscribe to our RSS feed
  • Forum activity

  • Find us on Facebook

  • Latest tweets

  • Support us

    If you find our content useful, you can support our activities by making a small donation.

    Bitcoin: 18ykfpxGUymmLoyuZ7hNHXg6zoQmEgsrvJ

    Ethereum: 0xcD9A6f858A235f9001DA612F43e12ff29CD1b53D

    PayPal (except India):

    Instamojo ( payments):

  • Advertisement