Finding,the,Real,Cost,Data,Bre computer Finding the Real Cost of a Data Breach!
Gone are those times when the companies and the organisations didn't need a hi-tech system to handle them. Owing to the considerable increase in the business sector and thus, an enormous increase in the complexity of the organisational struc ----------------------------------------------------------Permission is granted for the below article to forward,reprint, distribute, use for ezine, newsletter, website,offer as free bonus or part of a product for sale as longas no changes a
Every personwho is directly or indirectly have linked with computer technology must beaware with the fact that a data breach is a hazardous incident. But, no one hasbeen able to estimate the perfect loss sustained by the victim. There have beenseveral studies to approximate the cost of data breach. The most cited studyregarding data breach has been done by the Ponemon Institute. As per the reportof 2009-2011, the direct cost per breached record was 59 per data breach andthe indirect cost per breached record was 135. The global payment faced abreach in March 2012 that leaked the record of 1.5 million card holders. Latelyit was disclosed that some number of merchant accounts have also been affected,resulting a temporary removal from the PCI list. Although in the end of the dayafter facing all the trouble, they were able to continue their business asbefore.Lets discuss what is direct andindirect costs are and how we categorize the both costs?The directcosts are the expanses that are made physically by the company. These expansesfound a proper place after calculation in financial books. These costs includepayment of insurance, expanses paid for data protection, payments to partner,expanses made filing suit or paying fines. There can be many other directlosses which are recorded as per actual figures not by estimation. The GlobalPayment expensed $92.7 million till now. Out of that $92.7 million, $20 millionwas recouped by insurance, $35.6 million were the charges from the cards, $77.1million was spent on ID protection and there were some other direct costincluded in the loss. So adding up and subtracting the costs, it turned outthat the cost of direct loss was about $62 per record.Indirectcosts does not typically exist, they are an estimation of the future loss dueto the loss of peoples trust, goodwill in the market and other things. Theindirect cost does not find any real place in the financial records except thegoodwill which is recorded with an estimated figure. A wise businessman willrate his goodwill in the market as the most precious asset.Abusinessman does not know the importance of his records until he suffers abreach. The true value of the information is discovered in the black market.Data from a well to do company can be very handy for a rival company, thecompetitor can spend millions of Dollars to get the inside information of thecompany. Except the data leakage by mistake, the evil hackers can access yourcomputer by malware viruses and links. An email containing links can showhackers the way to their data if they are clicked. An online hacking isdifficult to tackle; however, one can make his/her data on their hard drivesfully secure. Using software that can Password Protect File can make all the records secure that he filecontains. For MoreInformation visit:http://www.newsoftwares.net/folder-protect/
Finding,the,Real,Cost,Data,Bre