A data breach makes international headlines nearly every week. A metropolitan hospital reports that its patient and staff records are exposed. A university discloses alumni information is missing. Personnel records are lost from another government agency.
The problem is only getting worse — both in terms of the number of records exposed and the number of affected organizations. And the cost? Beyond the impact to an organization’s reputation and credibility, such occurrences often result in legal liability with steep financial penalties. Considering the expense of legal counsel, public relations efforts and notifying customers (along with providing credit monitoring services to those impacted), a data breach can easily cost up to $200 per customer record.
Increasingly, a lost or stolen laptop is to blame. Consider this: Within U.S. and European airports alone, an average of 834,000 laptops are reported stolen or lost every year, according to the Ponemon Institute.