Cyber breaches have cost shareholders billions since 2013: report | Reuters

Cyber breaches have cost shareholders billions since 2013: report | Reuters

Cyber breaches have cost shareholders billions since 2013: report | Reuters

Cyber security breaches erode companies’ share prices permanently, with financials the worst hit, a study issued by IT consultant CGI and Oxford Economics has found.Severe cyber security breaches, such as those having legal or regulatory consequences, involve the loss of hundreds of thousands of records and hurt the firm’s brand, caused share prices to fall on average 1.8 percent on a permanent basis, the analysis of 65 companies affected since 2013 globally has found.Investors in a typical FTSE 100 firm would be worse off by an average of £120 million after such a breach, the report said. Overall the cost to shareholders of these 65 companies would be in excess of 42 billion pounds ($52.40 billion).CGI’s analysis compared each company’s share price against a cohort of similar companies to isolate the impact of cyber breaches from other market movements, during incidents detailed in a breach index compiled by Dutch security firm Gemalto.

Källa: Cyber breaches have cost shareholders billions since 2013: report | Reuters

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