– why do data breaches cost millions of dollars?
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Digital forensics incident response guy here, for example if we are investigating a breach and it involves patient records, in the United States there can be $1,000 or more fine per record that was compromised. I recently worked an investigation where a medical clinic upgraded their patient management software to a different program. The vendor didn’t tell them that their database conversion was done by low bidder outsource to India. About a year and a half later an internet investigator found the records for sale online and figured out who the clinic was and contacted them, it didn’t take long to figure out that the vendor had shipped their database overseas for conversion without telling them and it got sold out the back door of the outsource conversion company. This was not a large medical facility but they had about 10,000 patient records. So of course out the gate they were looking at a potential $10 million fine.
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