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Data Breaches Are Taking Longer to Detect and Contain

August 6, 2018 Hormazd Romer

Time is on the side of the attackers, the hackers, the criminal syndicates, and the nation states trying to breach your network. That’s a finding from a new IBM/Ponemon Institute study on data breaches, published in July.

For this study, the Ponemon Institute analyzed data breaches and what the institute now calls mega breaches in which over 1 million records are lost. Among their findings:

The average total cost of a data breach has risen 6.4% in the past year and now stands at $3.86 million.
The average time to identify a breach has grown to 197 days.
Once the breach is found, the average time needed to contain it has grown to 69 days.
The average global probability that an organization will suffer a material data breach in the next two years is 27.9%.

That’s a dispiriting collection of statistics. In plain English: there’s more than a one in four chance that an organization will be hit with a breach in the next two years, and when the breach occurs, it will persist undetected for over half a year. Then, once it’s detected, the IT organization will need more than two months to clean it up. And the cost of all this? Nearly $4 million.

Not only that, but the average size of a breach grew 2.2%. More records are being exposed than ever before.

Bigger, stealthier, and more costly—data breaches will continue to be a problem from SMBs and enterprises for years to come.

It’s Time to Accelerate Breach Detection and Threat Hunting

We cannot let this become the new normal, enterprises must take action now. They need to employ the best tools, processes, and people they can to strengthen their IT defenses and to empower their Security Operations Center (SOC) teams to detect and remediate breaches an order of magnitude faster.

Fortunately, new intelligent security automation tools can help.

By automating threat analysis and reducing IT workloads, the LogicHub Intelligent Security Automation Platform enables SOC teams to find and stop data breaches 10x faster than SOAR-only solutions. The decision-engine powered LogicHub platform accelerates:

Alert Triage LogicHub automatically eliminates 95% of false positive alerts from SIEMs and other security tools. Eliminating these false positives frees security analysts to dig deeper on real threats, and not miss breaches that otherwise slip detection in the never-ending stream of alerts they have to look at.
Incident Response LogicHub automates responses to common incidents and enables analysts to explore and resolve more complex incidents without interruption. LogicHub automates most of the work of Level 1 analysts and substantial amounts of the work of Level 2 analysts and Level 3 analysts. This automation produces results. At a top 10 bank, LogicHub accelerated work in the SOC 12X while reducing error rates from 14% to 3%.
Threat Hunting LogicHub’s unique decision engine is able to hunt through billions of security events captured in a SIEM to look for activity that represent potential threats, and automatically surface those to the SOC team. This is extremely effective for previously unknown threats and in defending against advanced hidden attacks.

Overall, the LogicHub platform has been proven to deliver 10X better performance than traditional SOAR (Security Orchestration, Analytics, and Reporting) systems.