http://www.darkreading.com/security/attacks/showArticle.jhtml?articleID=213000466 By Tim Wilson DarkReading Feb 02, 2009 The cost of data breaches is on the rise, and businesses that experience them are losing customers as a result, according to a new study issued today. In an an update to its popular annual "U.S. Cost of a Data Breach Study," Ponemon Institute and PGP have published a new report that indicates many of the cost factors surrounding security incidents have risen in the past 12 months. "After four years of conducting this study, one thing remains constant: U.S. businesses continue to pay dearly for having a data breach," says Larry Ponemon, chairman and founder of The Ponemon Institute. "As costs only continue to rise, companies must remain on guard or face losing valuable customers in this unpredictable economy." The average cost of a data breach in 2008 grew to $202 per record compromised, an increase of 2.5 percent since 2007 ($197 per record) and 11 percent compared to 2006 ($182 per record), according to the study. The average total cost per reporting company was more than $6.6 million per breach -- up from $6.3 million in 2007 and $4.7 million in 2006 -- and ranged from $613,000 to almost $32 million. [...] _______________________________________________ Best Selling Security Books & More! http://www.shopinfosecnews.org/Received on Mon Feb 02 2009 - 23:42:24 PST
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