Raines International: The Time to Appoint a Head of Cybersecurity is Now
The escalation in cyber-attacks, leaving hundreds of millions of consumer accounts and personal data naked, is growing at frightening levels and showing no signs of slowing down. So too are physical security compromises—many with lethal consequences.
The average data breach costs a publicly traded company $116 million. Equifax spent a whopping $1.7 billion in remediation costs after its 2017 hack. In the first six months of this year, more than 500 data breaches affecting 163 million people were reported.
In a time of cost-cutting amidst a pandemic, many organizations may be inclined to address cyber concerns at another time. But the attack on data is underway and relentless. The time is now.