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<b>Online Exclusive:</b> Cost of Privacy Breaches Rises in 2006
Analysis of 31 major corporate privacy breaches this year finds that the average cost to a company has surged to $182 per compromised record, an increase of 31% over 2005. The study was conducted by the Ponemon Institute on behalf of PGP Corporation and Vontu, Inc., two privacy technology firms.
The study takes a comprehensive look at the financial consequences of data breaches involving consumers' personally identifiable information, including legal, investigative, and administrative expenses, stock performance, customer defections, opportunity loss, reputation management, and costs associated with customer support such as information hotlines and credit monitoring subscriptions.
'The burdens companies must bear as a result of a data breach are significant, making a strong case for more strategic investments in preventative measures such as encryption and data loss prevention,' said Dr. Larry Ponemon, chairman and founder of The Ponemon Institute.
Andrew Krcik, vice president of marketing for PGP Corp., added that 72% of respondents indicated that 'ineffective protection of electronic information' was the primary cause of their breach.
Analysis of 31 major corporate privacy breaches this year finds that the average cost to a company has surged to $182 per compromised record, an increase of 31% over 2005. The study was conducted by the Ponemon Institute on behalf of PGP Corporation and Vontu, Inc., two privacy technology firms.
The study takes a comprehensive look at the financial consequences of data breaches involving consumers' personally identifiable information, including legal, investigative, and administrative expenses, stock performance, customer defections, opportunity loss, reputation management, and costs associated with customer support such as information hotlines and credit monitoring subscriptions.
'The burdens companies must bear as a result of a data breach are significant, making a strong case for more strategic investments in preventative measures such as encryption and data loss prevention,' said Dr. Larry Ponemon, chairman and founder of The Ponemon Institute.
Andrew Krcik, vice president of marketing for PGP Corp., added that 72% of respondents indicated that 'ineffective protection of electronic information' was the primary cause of their breach.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?