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The Rippleshot team wants to wish you a happy new year and we look forward to what 2015 brings!

In this week's issue: healthcare related data breach costs could reach $5.6B this year, the data breach at JPMorgan Chase could have been prevented with an easy security fix, Nvidia suffers a data breach exposing its employees login information and finally, Rippleshot takes a look back at the year of 2014, dubbed “the year of the data breach.”

Data Breach Costs for Healthcare Industry Could Reach $5.6B Annually

Experian released its 2015 Second Annual Data Breach Industry Forecast, helping give insight into the data breach industry. One of the key takeaways from Experian’s report predicts that the potential cost of data breaches in the healthcare industry could cost as much as $5.6 billion annually. With over 320 confirmed data breaches in the healthcare sector for 2014, many organizations are now shifting their focus to better protect their patients’ PHI (protected health information).

JPMorgan Chase Data Breach Could Have Been Thwarted With Easy Security Fix

According to those briefed on both the internal and external investigations involving JPMorgan Chase’s data breach, the largest security breach of an American bank to date, could have been prevented had a security feature been implemented.

In a recent piece by the New York Times, one of the bank’s network servers did not possess a security feature that many organizations and consumers use in their everyday life, a two-factor password authentication. It is noted in the article that JPMorgan Chase’s IT/Security team overlooked upgrading one of its servers with two-factor authentication to gain access to a protected system.

Nvidia Asks Employees to Change Usernames and Passwords Following Security Breach

Nvidia, the technology company is urging its’ employees to change their usernames and passwords due to a recent security incident. SC Magazine is reporting that the data breach occurred during the first week of December, affecting at least 500 employees. In 2012, Nvidia dealt with a security exploit that exposed the passwords of its members on Nvidia's forums.

Nvidia announced that enhanced security measurers have been implemented in order to prevent another security incident like this from happening again.

Rippleshot: Recapping 2014, the Year of the Data Breach

Earlier this month, CBS 60 Minutes correspondent Bill Whitaker deemed 2014 “the year of the data breach,” and we can’t disagree with him. In a recent Rippleshot blog post, we take a look back at 2014 as a whole and discuss some of the trends that impacted the payments ecosystem this past year.

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