Tag Archives: Ponemon Institute

Are Your Directors Talking Enough About Privacy and Data Security?

The number of companies suffering data breaches, and the average cost associated with each incident, continues to rise. According to the Ponemon Institute’s 2014 Cost of Data Breach Study: Global Analysis, the average consolidated total cost of a data breach rose to $3.8 million in 2014, which is a 23 percent increase compared to 2013. With the number of and costs associated with data breaches on the rise, corporate fiduciaries–directors and officers–need to be attuned to their company’s privacy and data securities policies and controls. Good corporate governance, meaning the system of rules, practices, and processes by which a company …

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The Rising Cost of Cybercrime

According to a Ponemon Institute study released October 2013 titled 2013 Cost of Cyber Crime Study: United States, the costs associated with cybercrime are increasing dramatically. The study, sponsored by HP Enterprise Security, gathered and reviewed data, across a range of industries, from 60 companies with more than 1,000 employees directly connected to the Internet. The data indicates that the average annualized cost borne by these companies due to cybercrime was $11.6 million. This represents a 26% increase from the previous year’s $8.9 million figure. The rise in costs is directly attributable to the increase of cybercrimes. The surveyed companies …

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