BreachExchange mailing list archives
Re: Article: The Cold, Hard Costs of Data Exposure
From: George Toft <george () myitaz com>
Date: Wed, 27 Sep 2006 16:23:23 -0700
PGP Study says the direct, indirect, and opportunity cost is $140 for each record lost. They also say 20% of the customers leave, and an additional 40% are looking for a new provider. Reference: PGP Research Report – Summary Lost Customer Information: What Does a Data Breach Cost Companies? http://www.securitymanagement.com/library/Ponemon_DataStudy0106.pdf Cheers! George Toft, CISSP, MSIS My IT Department www.myITaz.com 480-544-1067 Confidential data protection experts for the financial industry. lyger wrote:
(since the question of "how much is my data worth" was asked earlier this week, here's more for the discussion) Courtesy Dissent from pogowasright.org http://www.esj.com/News/article.aspx?EditorialsID=2169 Again and again the stories surface; only the names seem to change. Company X reports a data breach after a laptop is stolen or a server is hacked, exposing Y numbers of customers to potential identity theft. The common response to these incidents includes notifying the affected customers (as required by various state laws) and (usually) offering a year.s free credit monitoring service. What's untold is how much the episode is costing Company X, over and above the humiliation outlay. "Our estimate is that the cost ranges from $25 to $150 per impacted record," said Jon Oltsik, analyst at the Enterprise Strategy Group. More visible, national companies tend to spend more, he noted, as they have to notify people nationwide and stand more risk of losing their customers as a result of the incident. Local firms with minimal competition, such as a community hospital, can mount a less elaborate response, he said. [...] _______________________________________________ Dataloss Mailing List (dataloss () attrition org) http://attrition.org/dataloss Tracking more than 136 million compromised records in 375 incidents over 6 years.
_______________________________________________ Dataloss Mailing List (dataloss () attrition org) http://attrition.org/dataloss Tracking more than 136 million compromised records in 375 incidents over 6 years.
Current thread:
- Article: The Cold, Hard Costs of Data Exposure lyger (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure George Toft (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure security curmudgeon (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure Chris Walsh (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure Kenton Hoover (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure Tom Fragala (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure security curmudgeon (Sep 27)
- Re: Article: The Cold, Hard Costs of Data Exposure George Toft (Sep 27)