According to Forrester, 25% of all companies encountered a significant data breach in the last 12 months, the average cost of which in the U.S. was $ 5.4 million, and rising 5% each year. Half of these costs are tied to the lost business that comes when customers no longer feel secure with a company.
In a recent study, Verizon found that 98% of breaches were made by external agents and 97% were preventable through simple or intermediate controls. As companies race to meet all of their customers’ omni-channel preferences, they often leave security by the wayside. In the infographic below, Ping Identity discusses the expectations of customers today, the detrimental costs of a data breach, and steps every company should take to ensure security across all channels and build a good reputation.