Most businesses, large or small, are aware of the threats to their data security, whether from viruses, hackers or their own internal employees. Although the direct cost associated with responding to a breach can be staggering, a recent study found that the biggest financial consequence to organizations that experience a data breach is actually lost business.
The Ponemon Institute’s 2016 Cost of Data Breach Study showed that the average cost for each lost or stolen record containing sensitive and confidential information increased from $217 to $221, a new record high. The total average cost that organizations paid increased from $6.53 million to $7.01 million.
The top causes of data breaches have remained the same for several years: criminal and malicious attacks that take time to detect and contain.
Consider these simple practices to help protect your sensitive data: See Tips…