Data Breach Costs

In a previous post, I explained the risks of phishing.  In the 2009 Annual Study Australian cost of data breach report, they state that the average cost per compromised record is $123. Can you imagine that? If you have 10,000 records in your database, that’s a whopping $1,230,000. Which is why the common statement holds true… “80% of businesses that suffer a catastrophic data breach incident close their doors within 18 months.

Pretty sobering stuff isn’t it?

What can you do to ensure you and you’re data are safe? Be diligent about LIMITING access to data and ensuring you have the best and latest technology possible.

I don’t want to get into the details today, just thought I would share the statistic for you – it sure makes more “real” doesn’t it?

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