Fast Detection Makes All the Difference

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The average cost of a data breach is over $21,000 per day.
Writer Danny R.
November 04, 2015

Danny is one of the founders of Terbium and is known around the office for his extended soliloquies and pontifications about the security industry. He blogs about global trends and the importance of knowing where one's data is on the dark web.

If your company experienced a data breach today, how quickly would you want to be notified? Data breaches at major organizations continue to make headlines, and companies stand the best chance of reducing their liability and cost by reducing detection time.

The breaches at Scottrade, E-Trade, Dow Jones, and Experian all share a common thread: the breaches first started years ago. Now, these organizations face the unwieldy task of balancing remediation and recovery costs with an unavoidable question from their customers: why are we just hearing about this now?

Percentage Cost by Activities Conducted to Resolve a Cyber Attack
30%
30%
30%
14%
9%
7%
Detection
Recovery
Containment
Investigation
Incident Management
After-Effects
*Source: Ponemon Institute, 2015 Cost Of Cyber Crime Study*

Unfortunately, these companies are not alone in their delayed detection. According to the 2015 Cost of Cyber Crime Study from the Ponemon Institute, the mean number of days to resolve a data breach is 46, at an average cost of over $21,000 per day during the 46 day period. Detection and containment make up 41% of the resolution costs following a data breach, but organizations employing security intelligence technologies realize a 36% lower cost on detection, and 26% reduction in containment costs. Reduced costs, along with the benefit of transparency in alerting their clients to quick resolution, are why Ponemon highlights detection as a significant cost-reduction opportunity for organizations. Matchlight can help.

Matchlight Data Intelligence empowers clients with a suite of tools to proactively monitor their data. Matchlight alerts organizations immediately to the appearance of sensitive information online, with a particular focus on the dark web. With Matchlight, organizations have the information they need to execute their remediation plan quickly, and can avoid being alerted by a third party after weeks, months, or years of exposed information.

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