Monday, February 2, 2009
"A just-released study concludes that the cost of data breaches to businesses is rising from both internal negligence and the actions of third parties.
"The overall cost of data breaches is also rising. In 2008, the overall average cost to respondents was more than $6.6 million per breach, compared to $6.3 million in 2007 and $4.7 million in 2006, the study found. Actual costs ranged from $613,000 to almost $32 million.
"The fourth annual U.S. cost of data breach study conducted by the Ponemon Institute detailed the dangers. The study, which covers 2008, was funded by encryption vendor PGP. It found that 88 percent of data breaches are caused by simple negligence on the part of staff."
Posted by Hinky at 11:00 AM