[Dataloss] How much does a data breach cost UK companies?

[security curmudgeon]

---------- Forwarded message ----------
From: InfoSec News <alerts at infosecnews.org>

http://www.theregister.co.uk/2008/02/25/data_breach_real_cost/

By John Oates
The Register
25th February 2008

Data breaches cost UK companies an average of 47 for every record lost.

This means the average cost to a company which suffers a data breach is 
1.4m. The Ponemon Institute isn't pulling these figures out of the ether - 
it talked to 21 UK companies about how much actual data breaches cost 
them.

>From a total of 47 per record, the cost from lost business in the wake of 
a data disaster is 36 per cent or 17. Financial services companies are 
particularly at risk - their average costs per record are 55. Customer 
expectations of trust mean they also suffer a higher cost of lost 
business.

Phillip Dunkelberger, CEO at PGP Corporation, told The Reg: "Companies are 
increasingly waking up to the real cost of data losses, especially the 
cost of losing customers. It is a serious global problem with no easy 
answers."

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