The holiday season marks a high-alert period for ransomware attacks due to surging transaction volumes. Threat actors leverage heightened vulnerabilities, intensifying their efforts as companies brace for potential losses. Ransomware now emerges as the top corporate security threat, making breach response increasingly costly. Organizations are thus compelled to re-evaluate their incident response strategies to enhance compliance and reduce expenses.
Non-compliance with regulatory standards significantly amplifies breach expenses, notably when notifying affected parties. Companies face legal obligations to inform victims and authorities upon sensitive data breaches, with requirements varying by law and data type.
As data collection grows, organizations' data configurations become complex, requiring forensic teams to sift through vast amounts of often scattered information post-breach. Efficiently identifying breaches and ensuring compliant notifications are becoming increasingly challenging.
The global average cost of a data breach has risen by 10% over the past year, driven partly by inefficient post-breach processes. Companies must streamline their approaches to incident response.
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