The Cost of Data in 2021

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The Cost of a Data Breach Is About to Skyrocket

Did you know that CCPA includes a clause that allows people to sue companies that lose their data even if they can’t show damages? This is the private right of action clause and its implications are huge.

Let’s look at the Equifax breach and pretend it happened after CCPA went into effect.

At the end of 2017, Equifax had $4.3bn in cash. With CCPA, the breach would have cost them between $3.1bn and $14.4bn dollars. That could have ended Equifax.

The cost of a breach is set to skyrocket. Sometime in the next two years, we’ll have a mega-breach with price tags that jolt the industry.

The writing is on the wall.

Read my full article published in Infosecurity Magazine: "The New Economics of Holding Personal Data in 2021."

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