Data breaches can be costly, both in terms of recovery, lost productivity, and regulatory fines. Moody’s revising its outlook on Equifax proves a breach breach can be detrimental to the company’s financial future.
Bessemer System Federal Credit Union is suing Fiserv for not fixing the security issues in its banking platform, and says that thousands of small banks and credit union using the same software don’t even know their customer data is also vulnerable.
Humans are fundamentally wired to take risks, and their decisions are all about taking risks in order to gain some kind of a benefit. Poor decisions are because risks are not straightforward to understand, Andy Ellis, CSO of Akamai Technologies. If the information is presented differently, there would be better decision-making.