NEWS
Report exposes extent of net income drop post data breach regulatory fines , legal settlements and cyber insurance , in addition to the longerterm effects on corporate earnings and stock price .
ExtraHop has released a new report analyzing the financial impact of several high-profile data breaches .
According to the findings , public companies profiled saw net income drop an average of 73 % roughly one year following the announcements of a data breach .
The analysis examines the costs associated with data breaches at six organizations , calculating the sum of
Nearly all organizations analyzed experienced a decline in quarterly earnings and stock prices after a data breach occurred . In one example , ExtraHop noted a company ’ s stock price fell nearly 21 % he day after the breach was reported – and net income dropped 27 % year-over-year in the quarter the breach was reported . These losses are in addition to over 1 billion dollars in reported costs , including regulatory fines , legal fees and multiple settlements with consumers , businesses and individual states .
“ When a data breach hits , real people lose real money – it goes way past the upfront costs that accompany stolen records and the number of people affected ,” said Patrick Dennis , CEO , ExtraHop .
Boomi strengthens security and trust program with new ISO certifications
Boomi has confirmed the company is an ISO / IEC 27001:2013 and an ISO / IEC 27701:2019 certified provider whose Privacy Information Management System ( PIMS ) and Information Security Management System ( ISMS ) have received thirdparty accreditation from the International Standards Organisation ( ISO ).
Boomi ’ s 27001:2013 and 27701:2019 ISO certifications also include control objectives from ISO 27017:2015 and ISO 27018:2019 which provide guidance on both the information security aspects of cloud computing and the protection of personal data in the cloud .
Boomi CIO Neil Kole said : “ Achieving ISO certifications for the entire Boomi platform demonstrates our commitment to protecting our information assets .”
Boomi ’ s certifications were issued by global end-to-end compliance solutions provider A-LIGN on the completion of a formal audit process .
Boomi demonstrated the necessary technical controls in place and formalised IT security and privacy procedures and measures to safeguard and protect information from unauthorised access or compromise .
As one of the only integration platform as a service ( iPaaS ) vendors that is also FedRAMP authorised , Boomi is evolving to ensure its compliance security and privacy programs continue to meet the stringent regulatory standards set by governments and its nearly 20,000 worldwide customers .
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