{"id":18288,"date":"2020-12-27T17:19:07","date_gmt":"2020-12-27T14:19:07","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=18288"},"modified":"2026-03-27T20:06:47","modified_gmt":"2026-03-27T17:06:47","slug":"enterprises-in-meta-that-disclose-breaches-proactively-tend-to-experience-38-less-financial-damage","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/enterprises-in-meta-that-disclose-breaches-proactively-tend-to-experience-38-less-financial-damage\/","title":{"rendered":"Enterprises in META that disclose breaches proactively tend to experience 38% less financial damage"},"content":{"rendered":"\n
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There is a correlation between the way a data breach is disclosed and the total financial losses an organization experiences following a cybersecurity incident. According to a new Kaspersky report, \u2018How businesses can minimize the cost of a data breach\u2019, enterprises in the Middle East, Turkey and Africa (META) that decide to voluntarily inform their stakeholders and the public about a breach, on average, are likely to lose 38% less than their peers that saw the incident leaked to the media. The same tendency has also been found to be the case in SMBs.<\/strong><\/p>\n\n\n\n

Failure to promptly inform the public about a data breach can promptly make the financial and reputational consequences of a data breach more severe. Some high-profile cases include Yahoo!, which was fined and criticized for\u00a0not notifying their investors<\/a>\u00a0about the data breach it experienced, and\u00a0Uber\u2019s fine<\/a>\u00a0for covering up an incident.\u00a0\u00a0<\/p>\n\n\n\n

Based on a global survey of more than 5,200 IT and cybersecurity practitioners, Kaspersky’s report shows that organizations that take ownership of the situation usually mitigate the damage. Costs for enterprises that disclose a breach are estimated at $983k in the META region, while their peers that had an incident leaked to the media suffered $1.579 million in damage. The same is the case for SMB that operate in the\u00a0Middle East, Turkey, and Africa: those that voluntarily inform their audiences about a breach experienced less financial damage (19%) than those whose incidents were leaked to the press \u2013 $105k compared to $130k million.\u00a0<\/p>\n\n\n\n

Nearly half (53%) of businesses in META that have experienced a data breach went on to proactively and voluntarily disclose the incident, whilst around a quarter (26%) had their leak exposed to the media. Meanwhile, 21% of organizations that had experienced a breach did not disclose it at all.\u00a0<\/p>\n\n\n\n

Although enterprises that managed not to disclose the incident minimal losses were reported, this approach is far from ideal. Such companies are at risk of losing even more if \u2014 or more likely when \u2014 a cybersecurity incident is revealed to the public against their intentions.\u00a0<\/p>\n\n\n\n

The survey further proved that risks are especially high for those companies that couldn\u2019t immediately detect an attack. 29% of SMBs that take over a week to discover a breach will see it exposed in the press, compared to none if the breach is detected almost immediately. For enterprises, these figures stand at 18% and 30%, respectively.<\/p>\n\n\n\n

\u201cProactive disclosure can help turn things around in a company\u2019s favor \u2013 and it goes beyond just the financial impact. If customers know what happened firsthand, they are likelier to maintain their trust in the brand. Also, the company can give its clients recommendations on what to do next to keep their assets protected. The company can also tell their side of the story by sharing the reliable and correct information with the media, instead of publications relying on third-party sources that may depict the situation incorrectly,\u201d comments Yana Shevchenko, Senior Product Marketing Manager at Kaspersky.\u00a0<\/p>\n\n\n\n

To reduce the chance of suffering damaging consequences from a data breach, Kaspersky recommends that businesses follow these recommended actions in advance:<\/p>\n\n\n\n