Data breaches are crisis moments that businesses must prepare for in many ways: not just in taking steps at prevention, but also mitigating losses, arranging for business continuity, complying with legal and regulatory requirements, and communicating adequately with customers. Waiting to think about such issues when a data breach occurs can increase costs (including the costs associated with the time needed to restore normal business operations) and harm a company’s reputation.… More
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Ponemon Study Finds Average Cost of Data Breach Was $3.4 million in 2009
Last week, the Ponemon Institute and PGP Corporation released the results of their Global 2009 Annual Study on Cost of a Data Breach (.pdf) [available directly from EncryptionReports]. The highlights of the survey were announced in PGP’s press release. Ponemon surveyed companies in the U.S., UK, Germany, Australia and France and found that in 2009,… More