The numbers are in for the Desjardins Group data breach. And needless to say, they are steep.
Canada's largest credit union had a massive amount of customer data compromised in an insider threat case earlier this year.
SecureWorld covered the story as it unfolded:
A total of 2.9 million customers had data collected and shared outside the company by a now former employee.
Guy Cormier, President and CEO of Desjardins Group, announced the breach.
"I won't say all the words that I have in mind at the moment, because I know I'm in front of television cameras."
Desjardins Group just released its second quarter financial report for 2019. The company addressed the breach as a "Significant Event in 2019."
This is where it mentions the not-so-insignificant costs of the incident:
"The expenses related to costs incurred and the establishment of a provision with respect to the implementation of these protections for our members, totaling $70 million, have been recognized in profit or loss in the second quarter of 2019."
$70 million is high, but it's even higher when you consider the averages from the Cost of a Data Breach Report that the Ponemon Institute just released for 2019.
SecureWorld mentioned some of the highlights:
Desjardins Group definitely experienced losses well outside of the average.
Check out the full details from the financial report here.