3 Questions to Ask to Avoid a Consumer Data Breach

CONSUMER IDENTITY: ASSET & LIABILITY Is Your Company Effectively Protecting Your Customers Identity and Privacy? When customers provide your business with their personal information, they're entrusting you with a valuable resource. Consumer identity data helps you provide personalized experiences that can create long-term high-value relationships. It's a tremendously important asset. Given the rise in data breaches, it is also incumbent upon you to protect their data. Find out the risks, where they come from, and Three Questions to Ask Now to Ward off a Security Breach Later. Asset: Liability: What is the value of How much could a data consumer identity data? breach cost your company? Anonymous profile with 1 identifier $0.10 Cost per email (sold in groups of 1000 records) х1 Anonymous profile with 34 identifiers $0.18 Cost per email (sold in groups of 1000 records) х2 DODDDDDD Value per "friend" per Facebook profile Estimated value of each of $194+ cost per Record millions of records х6 $0.62 your "friends" to Facebook Location data per contact in DB Average price for location data for a contact x65 $6.50 $$ Demographics data per contact $32.15 Average price for demo- graphic data for a contact х320 lost revenue, loyalty & trust Buying behavior and preferences $54.50 Average price to know which products/services a contact х545 purchases or prefers Identity: A Valuable Asset Criminals have realized consumer information is an asset and breaches are trending upward. IN 2014 SO FAR... DATA BREACH INCIDENTS PER YEAR Over 502 million records of data (including passwords and credit card numbers) have been exposed from 1,331 5, 000 4,000 3,000 3193 incidents in the first six months of 2014 alone. 2,000 2261 3 incidents 2 incidents 1,000 1236 952 made the top 10 breaches of all time alone exposed 2010 2011 2012 2013 2014 318 million records * PROJECTED $50,000,000 HACKERS & THIEVES MAKE OUT GO0D, The estimated profit by thieves from just one breach last year. BUT CONSUMERS & BRANDS SUFFER Threats from the Inside The most significant, costly attacks are from the inside. Data Administrators Employees & Applications Partners Hackers INSIDE THE ORGANIZATION Causes Sources Targets 2%- 3%- 6% 8% 26% 41% 16% 40% 43% 52% 33% 30% Malicious attack Malicious Insider Contractor Employee negligence System glitches Malicious Outsider IT Administrator Hactivist Non-Executive Employee Executive Administrator State Sponsored or Accidental Loss Executive 75% of IT professionals said their employers did not have the ability to find threats that lurk within Three-fourths of insiders stole material their company they were authorized to access The direct and indirect costs of a of an Identity or Data Breach: breach are staggering. Implications Average total direct $5.4M organizational cost of a data breach in the U.S. is $5.4M High profile retailer breaches are -2% to -6% affecting sales (from - 2% to -6%) in adjacent quarters Recent data breaches $50M+ estimated to cost upwards of $50M+ AIA LEGAL Legal costs vary by industry and regulations A recent high CO9 $125M profile breach exceeded $125M Negative brand impact is hard to quantify! IMPACT The cost to notify customers $30/per of a data breach can reach $30 per customer What Organizations are at Risk? No company or organization is spared from threats Industries Affected The Number of breaches is spreading equally by industry beyond Financial Services 15% 24% Healthcare Government 9% Financial Technology 10% Retail 14% Education Other 14% 14% Three Questions to Ask Now to Ward Off an Insider Security Breach Later When consumers entrust Encryption you with personal information to enhance Do you use data layer encryption? their experiences with your organization, you owe it to them to protect their identity and privacy. Authentication What are YOU doing? Are you using second-factor authentication for administrators and internal users? TAKE THE NEXT STEP Download a FREE Business Brief: "Three Limits Questions to Ask Now Have you implemented limits that include administrative accounts? to Ward Off an Insider Security Breach Later" www.unboundlD.com/breach BROUGHT TO YOU BY UNBOUNDID UnboundID UnboundID is the Consumer Identity and Access Management company. Market-leading organizations rely on UnboundID's OneldentityTM platform to secure and leverage a unified view of their customer data in real-time, at scale across all engagement channels. The platform delivers unmatched security of sensitive customer data while www.unboundid.com enforcing each consumer's individualized permission, preference and privacy directives. UnboundID has many customers each exceeding 50 million identities in production, modernizing identity infrastructure for the most in demanding environments. SOURCES http://www.symantec.com/connect/blogs/data-breach-trends http://www.gartner.com/newsroom/id/2603215 Gartner Reveals Top Predictions for IT Organizations and Users for 2014 and Beyond, 2013 2013 Cost of Breach Study: Global Analysis, Ponemon Institute, 2014 Data Breaches on the Rise, Wall Street Journal, August 2013 2014 Mid Year Data Breach, Risk Based Security https://www.riskbasedsecurity.com/reports/2014-MidYear Data BreachQuickView.pdf http://www-935.ibm.com/services/us/en/it-services/security-services/data-breach/ http://www.cbsnews.com/news/home-depot-data-breach-may-top-50-million/ http://www.usatoday.com/story/money/personalfinance/2013/04/14/identity-theft-growing/2082179/ Thycotic survey of 127 Hackers, USA Today http://www.breachlevelindex.com/pdf/Breach-Level-Index-Report-Q12014.pdf UnboundID and the UnboundID logo are trademarks of UnboundID Corp. All other product or service names are trademarks of their respective companies. INCIDENTS C8