Article posted: May 31, 2017
By Joakim Thoren, CEO
This week, Fortune reported Target reached an $18.5 million settlement with 47 states and the District of Columbia over a massive data breach in late 2013. The hits keep coming for Target: over the past four years, the mega retailer has shelled out $202 million as part of this costly data breach.
Article posted: Dec 04, 2015
By Joakim Thorén, CEO
Information is Beautiful identified the biggest data security breaches since AOL's massive security blunder which compromised 92 million records in 2005. Interestingly, it seems there were at least a dozen breaches each year where hundreds of millions of records were compromised in retail, financial services, government, medical organizations and other industries. As in the AOL case, some of the most severe security leaks were attributed to lost or stolen equipment or insider threats.
Article posted: Oct 14, 2015
Since the ouster of Target's chairman, president and CEO in May 2014, board of directors are realizing that their own job security is closely linked to the overall security health of their companies. Corporate security is no longer a CIO-only problem and can negatively impact a company's stock price, customer retention rate and overall sales. A recent Gartner survey of nearly 1,000 people in large organizations found that corporate and cybersecurity have been elevated and now typically are governed by the board of directors. In fact, Gartner's results showed 71 percent of respondents saying IT risk management data influences decisions at the board level and reflects an increasing need to deal with IT as part of corporate governance. It's clear that board of directors must educate themselves if they want to protect their companies and their own jobs.