![]() The median loss from identity theft for consumers was $894 6. The FTC reports that in 2019, total losses from identity theft, which can be caused by stolen passwords, totaled $92 million. ![]() According to researchers from the University of North Carolina’s Kenan Flagler Business School, this increase is due to the fact that retail customers are less brand loyal than consumers in other industries 5.Ĭustomers’ PII-related data is the most valuable data type that hackers can extract from security breaches, costing $150 per record according to IBM’s 2020 Cost of Data Breach Report. For the retail industry, this loss triples to nine percent within only 30 days of the breach announcement. If companies have a data breach caused by stolen credentials, they can lose up to three percent of their overall market value long-term.Percent of Manufacturers With Data Breaches in 2020 73 percent of these incidents were motivated by financial incentives, while with 27 percent of these incidents, the motive was espionage 4. In the manufacturing industry specifically, malware that stole credentials and dumped passwords created 922 cybersecurity incidents in 2020. ![]() However, for the U.S, the average cost was the highest worldwide at $8.64 million 3.
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