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Info@NationalCyberSecurity

Surviving the Storm: How Companies Bounce Back from Cybersecurity Breaches | by Kory Becker | Apr, 2024 | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware


BUSINESS INTELLIGENCE

The journey of Equifax from asset impairment to financial recovery.

DataDrivenInvestor
Photo: DALLE.

Cybersecurity breaches are becoming a common occurrence and serious threat to stability and valuation in the technology industry.

At a time where data leaks and hacking attempts occur on a near daily basis, how can a company protect their assets?

More importantly, how can a company successfully rebound after a breach occurs?

Occurrences of cybersecurity breaches have been increasing at a steady rate over recent years. These can lead to significant costs that have both direct and indirect impact to a company’s assets.

The repercussions following the wake of a breach can range from financial impact to a company’s stock value all the way through to consumer outlook.

Direct costs

  • Legal fees
  • Incident response
  • Infrastructure repair
  • Data recovery

Indirect costs

  • Damage to reputation
  • Negative sentiment
  • Loss of customer trust

Given the serious nature of cybersecurity threats to a business, it’s important to understand the impairment impact of security breaches on a corporation, specifically regarding their assets.

A company’s assets often form a core part of their valuation and net worth.

When a cybersecurity breach occurs, the assets of a company may face a direct financial impact. It’s important to understanding and test whether a company’s assets exceed their recoverable amount.

If a company is damaged significantly enough through a cybersecurity attack, it could potentially lead to…

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