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Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off

  • Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off-

    Encryption and other technologies are gaining ground as post-breach remedies, but training and awareness programs remain the most popular.

    Sixty-three percent of respondents use training and awareness programs after data breaches, down four points from 2009. Encryption is the second most implemented preventive measure as a result of a data breach, with 61 percent. Both encryption and data loss prevention (DLP) solutions have increased 17 percent since 2008.

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Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off

  • 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13
  • Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off-7

    Encryption and other technologies are gaining ground as post-breach remedies, but training and awareness programs remain the most popular.

    Sixty-three percent of respondents use training and awareness programs after data breaches, down four points from 2009. Encryption is the second most implemented preventive measure as a result of a data breach, with 61 percent. Both encryption and data loss prevention (DLP) solutions have increased 17 percent since 2008.

Symantec Corp. (NASDAQ: SYMC) and the Ponemon Institute have released the findings of the 2010 Annual Study: U.S. Cost of a Data Breach, which reveals data breaches grew more costly for the fifth year in a row. The average organizational cost of a data breach increased to $7.2 million and cost companies an average of $214 per compromised record, markedly higher when compared to $204 in 2009. The study also found that for the second straight year organizations' need to respond rapidly to data breaches drove the associated costs higher. The sixth annual Ponemon Cost of a Data Breach report is based on the actual data breach experiences of 51 U.S. companies from 15 different industry sectors.

This slideshow highlights key findings from the study.

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