Study: Of All Breaches, Those Caused by Hacking Are the Costliest
January 27, 2010) The cost of data breaches rose slightly last year, but breaches resulting from computer hacking incurred by far the highest losses, according to a new report from privacy and data-security research firm Ponemon Institute LLC.
The average cost per compromised customer record rose to $204 in 2009 from $202 in 2008 and $138 as recently as 2005, according to Traverse City, Mich.-based Ponemon’s “2009 Annual Study: Cost of a Data Breach.” Some 24% of breaches were caused by placement of so-called malware or botnets or related criminal attacks on computer systems, double the 12% rate for such attacks in 2008. Forty percent of 2009’s breaches resulted from negligence, and 36% come from system glitches, according to the study.
The study, sponsored by Menlo Park, Calif.-based data-protection technology provider PGP Corp., is based on the actual breach experiences of 45 companies in 15 industry sectors. The firms agreed to complete detailed surveys about their breaches, including discovery, response, and effects on their businesses. Respondents included eight financial firms, eight retailers, five services firms, and four technology companies. None was identified specifically. Breaches affected 5,000 to more than 101,000 records. Forty-two percent of the breaches in the 2009 study involved mistakes by outsourcers. (more)
The average cost per compromised customer record rose to $204 in 2009 from $202 in 2008 and $138 as recently as 2005, according to Traverse City, Mich.-based Ponemon’s “2009 Annual Study: Cost of a Data Breach.” Some 24% of breaches were caused by placement of so-called malware or botnets or related criminal attacks on computer systems, double the 12% rate for such attacks in 2008. Forty percent of 2009’s breaches resulted from negligence, and 36% come from system glitches, according to the study.
The study, sponsored by Menlo Park, Calif.-based data-protection technology provider PGP Corp., is based on the actual breach experiences of 45 companies in 15 industry sectors. The firms agreed to complete detailed surveys about their breaches, including discovery, response, and effects on their businesses. Respondents included eight financial firms, eight retailers, five services firms, and four technology companies. None was identified specifically. Breaches affected 5,000 to more than 101,000 records. Forty-two percent of the breaches in the 2009 study involved mistakes by outsourcers. (more)
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