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5 Ways to Improve Your MSP Service Level Agreements (SLAs)

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VIDEO: The Average Data Breach Costs $3.8 Million : IT Rewind Episode 37

Posted May 29, 2015by Ben Barker

We all know that a data breach is costly, but do you know how costly? How about $3.8 million, costly! The average cost of a data breach is rising, find out what this means for you! Meanwhile, the IRS is the latest victim of a massive data breach, find out who it is affecting. We cover these stories and more on IT Rewind!


IT Rewind Featured Stories:

Did our short segment leave you wanting more? Check out the original articles of stories we covered!

Cost of a Data Breach Continues to Rise

eWeek@eWEEKNews, Sean Michael Kerner, 

Thieves Used an Online IRS Service to Steal Info From 100,000 People

Gizmodo, @Gizmodo, Kate Knibbs, @KateKnibbs

Continuum's Must-Read Blog Post This Week

Myth: Data Loss From User Error Is Only Attributable to Negligent Behavior

Mythbusting-May-1.jpg

What comes to mind when you think of the causes of data loss? Hacking, viruses, natural disasters, power outages, and user error are the common culprits. But don't you think we tend to sort malicious, cybercriminal schemes and user error into separate buckets. When you review many security reports, the two appear mutually exclusive. In reality, they're more closely related than you'd think, as we depict in our latest humorous video. Read More»


What Else Is New in the IT Channel?

Now that you've seen our top picks for this week, here are some more stories that made the headlines. Have a suggestion for a story that we should cover next week? Let us know by commenting below or tweeting @FollowContinuum or @BenDBarker!

Luring hackers:

         Canary Box Aims to Lure Hackers Into Honeypots Before They Make Headlines
         Ars Technica@arstechnica, Peter Bright, 

Secrets, secrets are no fun:

        Secret Question Account Recovery Method Weak as Users Provide Fake Answers: Study
        The Whir, @theWHIR, Nicole Henderson, @NicoleHenderson

Smaller security staffs:

         IRS Cut Its Cyber Security Staff by 11% Over Four Years
         InfoWorld, @infoworld, Patrick Thibodeau, @DCgov

Transcription

Hey everyone! After a week off we are back with another episode of IT Rewind! We all know that a data breach is costly, but do you know just how costly? Plus, the IRS has revealed that it is the latest data breach victim as 100,000 taxpayer accounts are at risk. We’ll cover these stories and more right now on IT Rewind!

A recent study conducted by The Ponemon Institute shows that the cost of a data breach is on the rise. In 2015, the average total cost for a breach of data is at $3.8 million dollars. Pretty steep, huh? The average cost per stolen record has risen from $145 in 2014 to $154 this year. Additionally, the report found that 47% of data breaches are caused by malicious or criminal attacks. So what does this mean for you? Well, information like this can be used as an eye-opener for your clients. The ability to attach a dollar figure with an IT risk could be just the nudge that a client or prospect needs to ramp up their IT security strategy.

It’s also worth noting that the Ponemon report found that 25% of data breaches were caused by human error. But just what does human error entail? We recently posted an article and video on our blog about this very topic. Here’s a sneak peak.

To see the full video and article, check out the link below.

The IRS is the latest victim of a massive data breach. Earlier this week, the IRS reported that its “Get Transcript” application was compromised by hackers, allowing the attackers to gain access to 100 thousand taxpayer accounts. Needless to say, the “Get Transcript” application is currently unavailable.

Before we leave you this week I want to remind you to book your ticket to Vegas. That’s right, Navigate 2015 is being held in the one and only Las Vegas and you do NOT want to miss out. Robin Robins, Verne Harnish and Michael George are just three of the amazing speakers that will be in attendance, so don’t delay, book your ticket today. Head on over to www.continuum.net/navigate2015 and make sure you don’t miss out. 

As always, read the full stories that we covered today by clicking on the links below, as well as the featured Continuum blog post of the week.

Of course, you can always find us on Twitter, Instagram and Vine at FollowContinuum, as well as on Facebook, LinkedIn, Google Plus, Spiceworks and YouTube. 

Take it easy.

 
Use BDR solutions to improve your business!
 
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Ben is a member of Continuum's marketing team. He specializes in blog content as well as video production. Ben is a graduate of Emerson College and a huge Boston sports fan.

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