Editor's Note: This story first appeared at Legaltech News, an ALM property. Click here to view the original post.
It seems like every time you turn around, a new main street staple, government organization or healthcare provider is sending out a data breach notification to customers or employees. While cyber crime has been around almost as long as the Internet, recent statistics show that cyber attack frequency and damages are on the rise, as are the costs associated with defending against them.
According to Verizon's 2015 Data Breach Incident Report, for the largest organizations in the world, cyber security events accounted for $400 million in damages and 700 million compromised records in 2014. Symantec's Internet Security Threat Report also saw a considerable uptick in the use of social engineering attempts and the use of ransomware; the latter was up 113% in 2014.
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