Cybersecurity 'ripple events' lead to 26x greater losses

A new report by the Cyentia Institute, sponsored by risk management company RiskRecon has analyzed over 800 cyber incidents and their impact on multiple downstream organizations. It finds that multi-party loss events that impact thousands of downstream organizations, otherwise known as 'ripple events', can result in 26x larger financial losses than traditional single-party incidents. A median ripple breach event causes 10x the financial damage of a traditional single-party breach, with the worst of the multi-party breach event causing 26x the damage. There's a long tail too, it takes 379 days for a typical ripple event to impact 75 percent of… [Continue Reading]