Thursday 6 November 2014

Some days ago, the Ponemon institute and IBM released the report that revealed the cost of data breach in the current year of 2014. The report revealed that the cost of per incident of data breach has risen significantly as compared to the cost in the last year. The records that have been compromised this year have cost almost $145 this year, on the other hand, the cost per data breach incident was $136. The average cost of a data breach incident of a company has cost nearly more than 15 percent higher than the cost of a data breach previous year. This year, cost of company’s data breach incident is 3.5 million, which was about $2.975.

The report that is published by the Ponemon institute and IBM this year is the ninth edition of this report. It has comprised the data breach experiences of more than 250 companies that are located in 11 different countries around the globe. This cost includes direct and indirect opportunity cost that is related to the incident of information leakage. It also includes the damage that the companies sustain due to the loss of customers, repairing brand image and acquiring the replacement of customers, all these costs are added to the average cost. The incidents of records breach have got common and also very expensive.

The most costly of the data breaches are usually the result of online attacks from the hackers. These cyber attacks  have harmed the USA and Germany quite a lot as they have paid nearly $246 and $215  respectively per data theft incident caused by cyber criminals. However, information can be protected against these online attacks by password-protecting your files and folders with Folder Lock. The biggest problem with the companies is that, about 55 percent of the companies do not have a plan to secure their records. Worse than that, almost 62 percent of the companies do not have any sort of strategy to secure IT infrastructure.

No matter if you are an individual or a company, you ought to secure your information, otherwise, as indicated by the report, you will have to bear a big cost. Stay safe and act wisely before it gets too late.
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