Access and Feeds

Security: Data Breaches Continue to Be IT Headache

By Dick Weisinger

Going into 2020 and the new decade, security continues to be a top concern for businesses. Creating a hack-proof IT infrastructure may be the goal, but it remains an elusive one.

Businesses continue to be confronted with many difficult security issues. A survey from late 2019 by Ponemon found the following statistics:

  • 65 percent of businesses experienced data breaches that affected data from more than one customer.
  • 81 percent expect to be the target of an attack within the next 12 months.
  • 78 percent expect to lose customer records and/or information assets

The financial impact from data breaches differs based on industry and type of data being managed. Hacking strikes against financial institutions are especially damaging.

62 percent of exposed data records were due to financial service industry breaches, although only 6.5 percent of the total number of breaches were in the financial industry, according to a Ponemon/Bitglass report. The average cost of addressing financial service breach costs is $210 per record. Compromised healthcare systems can cost as much as $429 per record to address.

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