Several businesses ranging from tech to healthcare could save about $71 billion in 2019. Data gathered and calculated by Precisecurity.com shows that Adobe Inc, Facebook, First American Corporation, Health Sciences Authority, Ministry of Health (Singapore), and Quest Diagnostics could have saved the amount if they had proper antivirus solutions in place.
28% of data breaches involve malware, according to Verizon [Data Breach Investigations Report 2019]. Thus, we can assume that with a good antivirus solution some businesses could avoid data leak considering that it would immunize computers against unauthorized code or software. Additionally, antivirus also protects computer systems by detecting real-time threats to ensure the data is safe.
Malware usually affects computer systems in various ways like self-replication to overloading the system, creating a backdoor for hackers, or file encryption. It can steal personal information and send it to an attacker. However, using a proper antivirus could help protect systems against malware attacks.
In total, all records leaked due to poor security were worth $256 billion since each record leak in 2019 was worth around $150, according to IBM Security. From the data, 28% of the breaches include malware, this means that about $71 billion could be saved if an effective antivirus solution was in place.
Over the years, each exposed record has had different financial consequences on businesses. For example in 2014, each exposed record accounted for $145 loss. In 2015, there was a rise in the cost per record at $154. Over the last five years, the highest figure was recorded in 2016 at $158 while 2017 saw a sharp decline to $141. In 2018 and 2019 each exposed record was worth $148 and $150 respectively.
The poor security led to the exposure of 1,712,222,200 records in 2019.
Adobe Inc had 7,500 records exposed. In this incident, anyone with a web browser could access the leaked information which included email addresses, account creation date, Adobe products used among others.
On the other hand, social networking giant Facebook suffered two breaches in 2019 due to poor security totalling in 807 million leaked records (the names, phone numbers, and Facebook user IDs were exposed).
Elsewhere, First American Corporation saw 885 million records exposed. The firm lost data on bank account details, social security numbers, wire transactions, and other mortgage paperwork.
In the healthcare category, Health Sciences Authority (Singapore) saw 808,000 records exposed to unauthorized personnel. The breach which was linked to a vendor affected blood donors records stored by the entity.
Singapore’s Ministry of Health witnessed the exposure of 14,200 involving the country’s human immunodeficiency virus (HIV) registry. Lastly, clinical laboratory service provider Quest Diagnostics had about 11.9 million records exposed. The exposure occurred when an unauthorized user had access to the personal information through a third-party billing collections vendor.
To compare, even by using $15 as the worth per each exposed record, the damage for business would still be high at about $7.1 billion in 2019. The $15 is a conservative figure which is 10 times lower than the current $150 worth per each exposed record valued by IBM Security.