Data breach could cost world's top brands up to $223 billion, finds study
Companies News The world’s top brands across sectors might lose between $93 billion and $223 billion because of a data breach, a first-of-its-kind study by Interbrand and Infosys, called ‘Invisible Tech, Real Impact’, has found. This represents 4-9.6 per cent of their cumulative value.
The study gains significance in the backdrop of yet another massive hack, this time of Microsoft’s email software, which is estimated to have affected at least 60,000 known victims globally, according to Bloomberg.
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The study found that there is a long-term impact of data breaches on brands across sectors.
This is because companies are increasingly embracing digital platforms to improve customer experience, one of the reasons why customers are willing to pay a premium, it pointed out...Read more.
