Ransomware attacks can have long-term financial consequences for companies beyond the immediate costs of the ransom, according to IBM’s Cost of a Data Breach Report. The impact can include legal and insurance fees, regulatory fines, recovery costs, and reputational damage. A breach can significantly impact company earnings and stock prices. Most companies see a drop in net income and stock prices following a breach. A major part of reducing these effects lies in being proactive and open about the breach.
FinWise Data Breach: 700K Customer Records Accessed by Ex-Employee
A major data breach at American First Finance, LLC has exposed sensitive information for nearly 700,000 customers. The breach, which occurred on May 31, 2024,
