Companies that want to avoid the most extreme cybersecurity-related losses should use multifactor authentication, monitor for covert channels indicating a backdoor, patch regularly, and use automated test to detect misconfigurations — in other words, the basics, according to a new analysis of the most damaging breaches of the past five years. The analysis — conducted by the Cyentia Institute, a data science firm, and based on a dataset from insurance-data firm Advisen — found the most expensive cyber incidents and breaches caused a median loss of $47 million.

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