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The Consumer Cost of a Data Breach

IDENTITY THEFT—U.S.

May 1, 2013

New research has revealed the consumer costs of last year’s breach of the Utah Department of Health. The New York Times’ Ann Carrns noted that on average, according to Javelin Strategy & Research, “each incident will result in more than $3,300 in losses” and each victim “will spend about 20 hours and $770 on lawyers and time lost from work to resolve the case.” Meanwhile, Bloomberg reports that more clinics and hospitals are investing in biometric technology—such as iris scans—to improve patient safety and curb identity theft. U.S.-based data breaches may have cost the healthcare industry as much as $7 billion a year, according to a Ponemon Institute study. (Registration may be required to access this story.)
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