With the increasing threat of data breaches impacting businesses—directly or indirectly—law firms are now putting into place more specialized practice groups to address the complex issues raised by such incidents.
The data breaches are not limited to just the high-profile events which are heard about more frequently. For instance, a recent study from PricewaterhouseCoopers estimated that there were 42.8 million security incidents detected in 2014 by survey respondents, a 48 percent jump from the number seen in 2013. The compound annual growth rate of detected security incidents has jumped 66 percent year-over-year from 2009 to 2014. Equally as important, just one successful cyberattack may cost a company $720,000 on average in damages, reports Kaspersky Lab. That number can increase to $2.54 million at some larger companies, the survey adds.
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