Negligent Employees Top Cause of Data Breaches - Malicious Attacks Most Costly - Slide 3

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If the organization has a CISO with overall responsibility for enterprise data protection the average cost of a data breach can be reduced as much as $80 per compromised record. Outside consultants assisting with the breach response also can save as much as $41 per record. When considering the average number of records lost or stolen, all of these factors can provide significant and positive financial benefits.

Symantec Corp. (Nasdaq: SYMC) and the Ponemon Institute recently released the findings of the 2011 Cost of Data Breach Study: United States, which reveals negligent insiders are the top cause of data breaches while malicious attacks are 25 percent more costly than other types. The study also found organizations which employ a chief information security officer (CISO) with enterprise-wide responsibility for data protection can reduce the cost of a data breach by 35 percent per compromised record. The organizational cost of a data breach was $5.5 million last year. The seventh annual Ponemon Cost of a Data Breach report is based on the actual data breach experiences of 49 U.S. companies from 14 different industry sectors.

“This year’s report shows that insiders continue to pose a serious threat to the security of their organizations,” said Francis deSouza, group president, Enterprise Products and Services, Symantec Corp. “This is particularly true as the increasing adoption of tablets, smart phones and cloud applications in the workplace means that employees are able to access corporate information anywhere, at any time. It is essential for companies to put the proper information protection policies and procedures in place to counterbalance these new realities.”

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Related Topics : Unisys, Stimulus Package, Security Breaches, Symantec, Electronic Surveillance

 
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