What do Morgan Stanley, Samsung, and a New York credit union all have in common? They aren’t of the same scale, do not cater to the same customer needs, nor do they store similar data. But, if there’s one thing in common between these three organizations, it’s that they’ve all been victims of a data leak. Morgan Stanley, the banking conglomerate, suffered a data leak due to sheer negligence of handling data at rest.

The healthcare sector in the United States has seen a continuous increase in both the frequency and cost of data breaches in the past decade. This is shown by a 61% rise in HIPAA violations from 2019 to 2020, resulting in penalties totaling $13 million for the sector. From 2020 to 2023, the average cost of a single healthcare data breach in the US rose nearly 30%, reaching a whopping $9.3 million.

The 2024 recognition momentum for Splunk continues! Splunk is ranked #1 for the fourth year in a row in the IDC Worldwide Security Information and Event Management Market Shares, 2023: The Leaders in SIEM City (doc # US52525024, September 2024) report. Splunk has also been named a Leader in the IDC MarketScape: Worldwide SIEM for Enterprise 2024 Vendor Assessment (doc #US49029922, September 2024).

Whether it's expanding to new regions or selling to larger customers with higher expectations, establishing an effective security and compliance program is a necessary step for growing startups. For many, the first step to unlocking growth is getting a SOC 2 report, which can be a complicated process. Many startups struggle to achieve compliance due to unclear requirements and an overwhelming amount of tools to choose from—making it hard to know which solution can get them compliant, fast. ‍

ALPHV, also known as BlackCat or Noberus, is a sophisticated ransomware group targeting critical infrastructure and various organizations, including being the most active group used to attack the financial services sector. ALPHV first appeared in November 2021 and operates on a Ransomware-as-a-Service (RaaS) model, allowing affiliates to use its malware for their own attacks in exchange for a cut of the ransom payments.

This blog breaks down how much businesses can expect to spend on a SOC 2 audit, depending on their size, structure, and what they hope to achieve.