The Security Operations Center (SOC) is the first line of defense against cyber attacks. They are charged with defending the business against the many new and more virulent attacks that occur all day, every day. And the pressure on the SOC is increasing.
Their work is more important, as the cost of data breaches are now substantial. The Ponemon Institute’s “2017 Cost of Data Breach Study” says the average cost of an incursion is $3.62 million. The study also says larger breaches are occurring, with the average breach impacting more than 24,000 records. And with new regulations such as the EU’s General Data Protection Requirement (GDPR) putting stiff financial penalties on breaches of personal data, the cost of a breach can have material impact on the financial results of the firm. This trend toward increasingly onerous statutory demands will continue, as the U.S. is now considering the Data Privacy Act, which will bring more scrutiny and accompanying penalties for breaches involving personal data in the U.S.