The Cost of a Data Breach: Everything

A growing trend is for cybersecurity vendors to try to quantify the dollars-and-cents impact of a particular risk.  But these tools often overlook the secondary effects of a breach, including the tarnishing of the organization’s reputation or brand and customer retention issues.  These secondary effects can be especially damaging in services industry, where an individual’s reputation can also be impacted.  The article below discusses what happened to one of the largest law firms in Panama approximately a year after it was hacked and confidential information about many prominent politicians was made public.  Spoiler alert: the once venerable firm has now closed its doors.