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Security breaches – Hackers cost companies real dollars

Two articles sharing the need for meaningful standards and best practices in corporate security

Security breaches – Hackers cost companies real dollars http://blog.eset.com/2011/06/10/the-dollar-cost-of-a-data-breach

QUOTE: Bottom line, there’s a price to pay, either for prevention or cure, and it’s rising. More good news: many of the data breaches could’ve been prevented and/or blunted by relatively simple use of industry Best Practices, not necessarily breaking the organization “Piggy Bank” in the process. But upper management and shareholders sooner or later have to realize the high cost of doing nothing, and that cost is rising.

Cost of a data breach climbs higher http://www.ponemon.org/blog/post/cost-of-a-data-breach-climbs-higher

QUOTE: But, that hasn’t happened yet. The latest U.S. Cost of a Data Breach report, which was just released today, shows that costs continue to rise. This year, they reached $214 per compromised record and averaged $7.2 million per data breach event. The fact is that individuals still care deeply about their personal information and they lose trust in companies that fail to protect it.

Malicious or criminal attacks are causing more breaches. This year malicious attacks were the root cause of 31 percent of the data breaches studied. This is up from 24 percent in 2009 and 12 percent in 2008. The significant jump in malicious attacks over the past two years is certainly indicative of the worsening threat environment. Malicious attacks come from both outside and inside the organization, ranging from data-stealing malware to social engineering.

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