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Per- record data breach cost rises

29/03/2012 00:00:00

The cost to UK organisations suffering a data breach has risen by 68 per cent in five years for UK businesses, and now stands at £79 per record.

Almost half of the £79 (£37) is indirect costs such as lost business, reputational damage or churn of existing customers. 

According to research by Symantec and Ponemon Institute, negligence by both employees and contractors is posing the biggest risk to organisations and is responsible for more than a third (36 per cent) of all data breaches.  Malicious or criminal attacks have increased slightly from 29 per cent to 31 per cent and are the most costly for organisations. 

The report also found that businesses that do not suffer data loss are less likely to be abandoned by customers. 

PHS Datashred advises that all companies should implement steps within their business strategy to prevent data breach and prevent any financial loss.

The safest way of responsibly destroying sensitive material and data is to recruit an accredited data destruction company, such as PHS Datashred, who can help you achieve maximum security safely and efficiently with reduced costs. 

Source: SC Magazine UK

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