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Study Reports Average Data Breach Cost is Significant

BBC – 21 March 2011

A new study released by computer security firm Symantec and the privacy consultancy group the Ponemon Institute found the average cost of a data breach in the UK was nearly £2M.

Cited among the reason for the high cost were investigating incidents, fixing systems and re-training staff.  Replacing the business lost from customer defections after a data breach was also included as was the additional burden of increased regulatory scrutiny after a breach.

Data breach notification costs are not yet significant in the Europe, but thatwill likely change in the revised directive out later this year.

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