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- February 7, 2007: New Techniques for Guarding Financial Data
- February 6, 2007: Increased Scrutiny From Card Associations in 2007
- January 28, 2007: The State of PCI Compliance 2007
- January 23, 2007: Background Checks on IT Personnel
- January 5, 2007: 100 Million Notifications of Data Breaches in US
- December 17, 2006: Inside Jobs: The Risk of Data Breach From Insider Threats
- December 12, 2006: Card Associations Step Up PCI Enforcement
- December 1, 2006: CompTIA Survey Emphasizes Importance of Security Training
- December 1, 2006: CompTIA Survey Emphasizes Importance of Security Training
- November 16, 2006: Average data breach costs $5 million
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Average data breach costs $5 million
Network World’s 11/6/06 edition features an article that focuses on the costs of data breaches. The headline is “Average data breach costs companies $5 million” which clearly summarizes the entire article. The article is based on results from a study conducted by the Ponemon Institute.
According to the Privacy Rights Clearinghouse, there have been 254 data-breach incidents this year. The Ponemon study found that it costs an average of $182 for each compromised data record, which is up from $138 last year, an increase of over 30%.
At first glance, these numbers seem exorbitant. According to Andrew Krcik with PGP, “By not connecting the dots, companies are not seeing the true costs and, therefore, the true value of preventative measures.” So the old adage, an ounce of prevention is worth a pound of cure, certainly rings true regarding data security.