Why cybersecurity is important – Cost

by | Aug 17, 2022 | Thought leadership

The enormous cost associated with cyberattacks continues to hit the headlines. In recent weeks alone, T-Mobile has agreed to pay $500 million following a class action lawsuit connected to a cyberattack last year that exposed the personal data of over 76 million people. In addition, the company also committed to invest over $150 million in additional security measures over the next two years.

Despite the scale of this settlement, it still represents the tip of the iceberg across the world as a whole, with the financial damage continuing to mount. But who pays these bills? According to a new report by IBM, the burden falls heavily on consumers, with nearly two-thirds (60%) of businesses that had been breached subsequently raising their product prices.

The annual ‘Cost of a Data Breach Report’ shared a range of alarming trends, not least that the global average financial impact of a breach has reached an all-time high of $4.35 million – up by 13% over the last two years alone.

What’s more, paying for a breach isn’t just about settling a one-off bill, no matter how large. The report points out that 83% of organizations have been on the receiving end of a breach more than once, while nearly 50% of costs are incurred more than a year after the breach. The idea that suffering a breach is ‘not a question of if, but when’ needs to be replaced with ‘not a question of if or when, but how often?’

 

Critical infrastructure costs

Looking at the impact of breaches on critical infrastructure organizations, in particular, the report points out that “almost 80% of critical infrastructure organizations studied don’t adopt zero trust strategies, seeing average breach costs rise to $5.4 million – a $1.17 million increase compared to those that do.”

Failure to adopt zero-trust cybersecurity processes and technologies leaves organizations at ongoing risk of damaging and expensive incidents. At Glasswall, we deliver zero-trust file protection, keeping organizations secure from file-based threats with CDR (Content Disarm and Reconstruction) technology.

Instead of looking for malicious content, Glasswall’s zero-trust file protection treats all files as untrusted — validating, rebuilding and cleaning each file to a safe and compliant standard — automatically removing potential threats. 

With Glasswall CDR, only safe, clean and fully functioning files enter and leave an organization, allowing users to access files with full confidence. 

By implementing Glasswall CDR, security teams need no longer choose between complete file security or speed and usability. Unlike other CDR vendors who flatten files, Glasswall CDR provides rapid zero-trust file protection that maintains original document usability. There is no dependence on antivirus databases to provide knowledge of a new threat, and security teams no longer deal with disruptions from quarantining files or false positives. 

We are set apart from the crowd by our capability to instantly return files to their manufacturer’s ‘known-good’ specification. Each processed document is risk-free, fully functioning and visually identical to the original. 

This proactive defense enables organizations to prevent future attacks while giving users the freedom to access files safely. With cybercrime set to cost the world $10.5 trillion by 2025 – a figure higher than the GDP of any country in the world with the exception of China and the U.S., – organizations need to focus on minimizing their exposure to the spiralling costs of a breach.

Read more about our CDR solutions

Related

What is Glasswall CDR?

Embedded Engine

CDR Platform

Solutions

REST APIs

Email Security

Threat Intelligence

Plug-ins

CDS Plug-in

ICAP Plug-in

Menlo Plug-in

Palo Alto Plug-in

apps

Apps

Clean Room

Desktop

Why CDR?

We believe people should be free to open their files without fear. Glasswall CDR takes a proactive approach to automatically remove all Zero-day threats from files, without sacrificing productivity.

Use Cases

Secure Email

File Uploads and Downloads

Malware Risk Removal

Metadata Removal

Cybersecurity Crisis Response

Cybersecurity Crisis Prevention

Cloud Native Integrations

Data Migrations

SDK Integration

Resource Library

Blog

Events

support lines

Support

Glasswall CDR Portfolio

Reactive cybersecurity is failing - it’s time for a better way. Traditional detection-based security methods play catch up with new threats. Find out how your organization can take a proactive approach to cybersecurity.

strategic alliances

About our Partner Program

Our Partners

Become a Partner

Bringing File-based threat protection to your customers

Offer a richer security portfolio with the most agile CDR platform on the market. Stand out from the competition with a partner program built for you. Let’s make files safer together.

About Glasswall

Our People

Careers

communication

Contact Us

support lines

Support

Raising the bar on file security

We believe people should be free to open their files without fear. To click on anything without risk of catastrophe. To use systems the way they were meant to be used. That’s why we’re raising the bar on file security at Glasswall.