Fortune 500 company leaked 264GB in client, payment data
zdnet.com
zdnet.com
As for having your identity stolen, that can be a very expensive and long drawn out process to recover from.
Interesting. Similar to Facebook's issue with logs. Though it didn't leak outside the company in their case.
Google for something like "pii scanning".
Also, up until about three years ago you could purchase cheap cyber security insurance. When Sony got hacked over “The Interview” policies went up.
Still, most companies don’t do anything to really prevent issues.
While the punishment may not have a huge adverse affect on the company, it does on the people implementing said systems. Being the one in the middle of a GDPR/SOC2 compliance oopsie means you lose all upward mobility in said company and risk getting fired.
Consider Deep Root, the 198 Million records of detailed voter demographics left in an open S3 bucket. Maybe it was accidental, maybe it was plausible deniability for transferring the data to foreign entities. "We didn't collaborate, we were hacked !"
Intentionally choosing to accept the (increased) risk of such incidents instead of spending money to secure it properly, on the other hand, seems likely.
The cost of breaches for the company that allowed other people's data to get leaked is still way too low, so there is little incentive to secure the data appropriately. Additionally, costs/benefits in security are hard to measure. In business decision making, visible costs/benefits tend to win over invisible costs/benefits, so the very visible cost of paying someone to get it right has an additional disadvantage over the invisible risk of maybe, potentially, having to actually pay the (small) cost of a breach in the future.