Data breaches cost companies in intangible ways, damaging corporate reputations and often leading to a loss of trust among consumers and business partners. On the tangible side of the ledger, each leaked record can cost a company nearly $7. While that may not seem like a lot of money, several of the biggest recent retail data breaches “liberated” hundreds of millions of records, putting potential losses in the billions.
For example, a February 2020 data breach at Estée Lauder leaked 440.3 million records, costing an estimated $3.069 billion. That same month, an MGM Resorts breach of 10.6 million records tallied up an estimated cost of $363.4 million.
Learn more in this infographic from Surfshark.