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PR Newswire
10-12-2014, 03:42 PM
Hackers have created a huge job market for online security, which pay well...
Cyberattack could cost Sony studio as much as S$132 million
LOS ANGELES — Sony’s movie studio could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations and exposed sensitive data, according to cybersecurity experts who have studied past breaches.
The tab will be less than the US$171 million (S$225 million) Sony estimated for the breach of its Playstation Network in 2011 because it does not appear to involve customer data, the experts said.
Major costs for the attack by unidentified hackers include the investigation into what happened, computer repair or replacement, and steps to prevent a future attack. Lost productivity while operations were disrupted will add to the price tag.
The attack, believed to be the worst of its type on a company on US soil, also hits Sony’s reputation for a perceived failure to safeguard information, said Mr Jim Lewis, senior fellow at the Center for Strategic and International Studies.
“Usually, people get over it, but it does have a short-term effect,” said Mr Lewis, who estimated costs for Sony could stretch to US$100 million (S$132 million).
It typically takes at least six months after a breach to determine the full financial impact, Mr Lewis said.
Sony has declined to estimate costs, saying it was still assessing the impact.
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http://www.todayonline.com/business/cybe...32-million
Cyberattack could cost Sony studio as much as S$132 million
LOS ANGELES — Sony’s movie studio could face tens of millions of dollars in costs from the massive computer hack that hobbled its operations and exposed sensitive data, according to cybersecurity experts who have studied past breaches.
The tab will be less than the US$171 million (S$225 million) Sony estimated for the breach of its Playstation Network in 2011 because it does not appear to involve customer data, the experts said.
Major costs for the attack by unidentified hackers include the investigation into what happened, computer repair or replacement, and steps to prevent a future attack. Lost productivity while operations were disrupted will add to the price tag.
The attack, believed to be the worst of its type on a company on US soil, also hits Sony’s reputation for a perceived failure to safeguard information, said Mr Jim Lewis, senior fellow at the Center for Strategic and International Studies.
“Usually, people get over it, but it does have a short-term effect,” said Mr Lewis, who estimated costs for Sony could stretch to US$100 million (S$132 million).
It typically takes at least six months after a breach to determine the full financial impact, Mr Lewis said.
Sony has declined to estimate costs, saying it was still assessing the impact.
...
http://www.todayonline.com/business/cybe...32-million
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