Infoblox Inc., the leader in Secure Cloud-Managed Network Services, today unveils new research into how the COVID-19 shutdowns challenged the financial services industry s core infrastructure. More than one year into the pandemic, banks, insurers, and other financial institutions report costly consequences to falling short of protecting their massive data troves from cloud-based attacks and network disruptions.
Based on more than 800 responses from IT professionals working in the financial services industry in North America, Latin America, Europe and the Asia-Pacific region, the report highlights:
Data breaches are an increasingly significant cost burden for the industry: Worldwide, financial firms that experienced a data breach reported estimated average losses of roughly $4.2 million per attack, with U.S. organizations hit hardest at $4.7 million in estimated losses.
Cloud Services a Multi-Million Dollar Threat Vector for Healthcare Industry pharmiweb.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from pharmiweb.com Daily Mail and Mail on Sunday newspapers.
Infoblox Inc., the leader in Secure Cloud-Managed Network Services, today unveils new research into the foundational infrastructure challenges faced by networking and security decision-makers in the US government. The report reveals a disruptive year of workforce transformation forced by the COVID-19 shutdowns during which respondents also handled expensive fallouts from network outages and data breaches.
Based on 294 responses from federal, state and local government IT decision-makers, key survey findings include:
Cybersecurity breaches inflict multi-million dollar pain on government organizations: 81% of respondents estimated data breaches have cost their organizations at least $1 million.
The majority of network outages exceeds $1 million in damages: 60% of networking outages cost at least $1 million in operational disruptions, reputational damage, lost data, and financial losses.