Data breaches are causing severe financial and operational consequences across multiple sectors, notably healthcare, finance, and retail. These can result in business disruption, regulatory fines, post-breach response expenses and reputational damage. Strategies to mitigate these costs include the use of AI and automation, employee training, incident response plans, patching vulnerabilities, and monitoring third-party vendors. Furthermore, while cyber insurance can provide financial relief, it cannot replace comprehensive cybersecurity measures. Understanding the unique costs and impacts of breaches per sector can help formulate targeted cybersecurity strategies.
Patch healthcare security gaps to keep cybercriminals out
Dr. Eric Liederman, CEO of CyberSolutionsMD, notes that as financial institutions bolster their security, cybercriminals are increasingly targeting healthcare organizations, perceiving them as more vulnerable
