Change In Corporate Mindset Needed To Combat Cyber Attacks

From our colleague, Richard Levick:

Yahoo!’s announcement late last year that it had been victimized by not one but two separate data breaches was the Gettysburg of corporate cyber attacks – the biggest battle yet waged. The first attack, which occurred in 2014, impacted more than 500 million Yahoo! user accounts, while the second assault, in August 2013, was nearly twice as malevolent.

As with the Union Army at Gettysburg, Yahoo! was fortunate to prevail. Next time, it may not be so lucky.

The two attacks, the largest known security breaches of one company’s computer network, triggered several class action lawsuits against the tech giant. They also put Verizon’s $4.83 billion pending acquisition of Yahoo! in jeopardy. Yahoo!’s hacking episode was just the latest in a Murderers’ Row of cyber attacks on mega brands such as Home Depot, Sony, and Target. Despite the untold damage and dislocation caused by cybercrime, some companies inexplicably choose to ignore the threat.

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