Cost of Data Loss at Record Levels

http://ow.ly/74aVy

An article posted on proofpoint.com, no author credit provided.

This article discusses the issue of data loss, and how costly it has become to business.

The article states, "MarketWatch recently published an article explaining that the cost of cyber crime over the past six years has hit record heights, as many IT security research firms have released new reports on data breaches from around the world. According to the source, a Digital Forensics Association study revealed that more than $156 billion in damages have resulted from over 3,765 security breaches of U.S. businesses since 2005."

The article further states, "Identity Theft Resource Center reports that 149 breaches have led to the exposure of more than 7.5 million sensitive records in the business sector since January 1. Additionally, the Ponemon Institute released a report this past spring explaining that each record lost cost an average of $214, while each breach cost $7.2 million on average."  As a further statement on this topic, "According to the Identity Theft Resource Center, 43 breaches have led to the exposure of more than 10 million sensitive records in the government and military sector since January 1."