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Study: Breaches Cost Companies Almost $157 Billion

DATA LOSS

September 7, 2011

A recent study found that from 2005 through 2010, data breaches cost companies $156.7 billion dollars, reports InfoSecurity. The Digital Forensics Association studied 3,765 publicly disclosed data breach incidents encompassing more than 800 million lost records--65 percent of which disclosed victims' names, addresses and Social Security numbers. Incidents of confirmed criminal use of breached data increased by 58 percent from the prior study, states the report, with hackers responsible for 48 percent of the records studied.
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