Network Security Breaches Costing Companies More Than Ever

Posted on Jul 29, 2014
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Data Breaches (1)A report conducted by the Ponemon Institute indicates costs of data breaches rose 15 percent over the last year, highlighting the growing economic burden

companies throughout the world are facing as the result of network security compromises.

The ninth annual Cost of Data Breach Study: Global Analysis took into consideration data breaches that compromised sensitive, confidential or protected company data. Information was compiled through 1,690 interviews with IT professionals in more than 10 countries, including the U.S. and Canada.

Dr. Larry Ponemon, Founder and Chairman of the Ponemon Institute, said in a press release the report was intended to provide companies and organizations with data on the most common types of data breaches in order to begin combatting the issue.

“The goal of this research is not to just help companies understand the types of data breaches that could impact their business,” he said, “but also the potential costs and how best to allocate resources to the prevention, detection and resolution of such an incident.”

According to the report, just 38 percent of companies have a security strategy in place for IT infrastructure.

 

 

JonsfaceWant to have a chat about network security and what it means for your company or organization? Call Jon Heyesen, Citon’s Director of Business Development, at 218.720.4435 or email him at jon.heyesen@citon.com.