Many companies are criticised for handling breaches poorly. Talk Talk are held up as an exemplar yet suffered serious cost impact.
In their post breach trading statement Talk Talk told us they gained fewer customers than expected following the cyber attack because it closed down online sales operations. '…the resultant cost of the disruption in the third quarter was about £15m.' Exceptional costs of £40m-£45m, took the declared total bill for the attack to £60m.
However the real cost of this and all Cyber breach's is the net impact it has on the value of a company's brand. The share price impact on Talk Talk was huge. It follows that the actual product we deliver through our Cyber Security consulting services is that of Brand Protection.