The Prolonged Impact of Data Breaches: Lessons from LoanDepot and Henry Schein

What can we learn from the latest data breaches at Loandepot and Henry Schein as cybersecurity practitioners and lessons to help us plan a head.

As Chief Information Security Officers (CISOs), our role extends far beyond the technical realm; we are also stewards of our companies’ operational resilience and financial health. Often, we find ourselves navigating the business for more funding to reduce risk and increase resiliency and the use cases below if leveraged correctly can help us achieve more wins in our battle for funding and success in communicating the need to support cybersecurity within the organization.

The aftermath of a data breach can have a long-lasting impact on both, as seen in the recent experiences of LoanDepot and Henry Schein. These cases illustrate how breaches can disrupt operations, erode trust, and create prolonged financial burdens that must be carefully managed.

 LoanDepot: The Cost of Operational Disruption

LoanDepot, a prominent non-bank lender, recently reported a significant financial loss in its second quarter, attributing much of this downturn to the lingering effects of a cyberattack. The incident, which exposed sensitive customer data, forced the company into a costly recovery process that extended well beyond the immediate aftermath. The impact to the stock price and operating expenses can be seen below.