Hacking is a huge problem. In 2023, some of the world's largest organizations were attacked, and the results were devastating.

MGM Resorts International was hacked in September 2023, resulting in operational disruptions that lasted several hours and cost the company over $100 million in lost revenue.

Also in September 2023, Johnson Controls was hit with a ransomware attack that crippled the company's IT infrastructure. Johnson Controls was ultimately forced to delay its earnings release due to the breach. Moreover, the damage from the attack resulted in a $60 million impact to earnings.

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Source Fool.com