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>> if the damage from data breaches exceeds the cost of eliminating it. Definitely not. Damage is done to customers but costs to eliminate are on the company.
by ponector 1y ago
>> if the damage from data breaches exceeds the cost of eliminating it.
Definitely not. Damage is done to customers but costs to eliminate are on the company. Why should company invest more if there are no meaningful consequences for them?
- JumpCrisscross 1y ago> Definitely not. Damage is done to customers What is the evidence for this? The cost of identity fraud clocks in around $20bn a year [1]. A good fraction of that cost gets picked up (and thus managed) by financial institutions and merchants. I’m sceptical we could harden our nation’s systems for a few billion a year. [1] https://javelinstrategy.com/research/2024-identity-fraud-study-resolving-shattered-identity-crisis https://javelinstrategy.com/research/2024-identity-fraud-stu...