If you need a wake up call on how much a cybersecurity breach will cost, take a look at Yahoo who may have just lost $1 billion dollars in their sale to Verizon. In addition, Yahoo! was outed – although they dispute the claim that they gave carte blanche to the FBI and NSA to scan through every email they have in this system. (Yes, I actually wondered in writing if Yahoo! is the preferred email system for terrorist.)
Of course, this comes after President Obama telling the American people the government was NOT doing this.
In the past I’ve written about the cost of a data breach being around $145 per record stolen. It seems at least 500 million email accounts were stolen – perhaps even a billion. This is the largest breach in history so far. Taking the smaller number and multiplying by $145 actually gives us a much larger number – $72.5 billion!
So this is a much better deal for Yahoo! – then again the purchase price is under $5 billion.
Every business is a target – be sure to protect yourself. A breach seems to not be a matter of if but when. The more precautions you take, the better you will be able to defend your company after it happens.
Verizon immediately responded to my request for comment and said they could not comment – Yahoo! did not respond.