Breach Cost going up

In an Article released today on Dark Reading Kelly Sheridan discusses what brings an organization to breach According to the study, mentioned in the dark reading article most data breaches (48%) come from malicious or criminal attacks, which are the most expensive, at $157 per capita. Twenty-seven percent are caused by human error – for example, negligent employees or contractors ($131 per capita). One-quarter result from system glitches, including both technical and business process failures ($128 per capita). Hundreds of factors influence the cost of a data breach. Third-party involvement is the most significant: If a third party causes an incident, it costs the company about $13 per record stolen, the report reveals. “Every company nowadays is not a product only of what they do, but their supply chain as well,” Barlow points out. Extensive cloud migration and compliance failure both contribute to the

growing cost, adding about $12 per record to the total expense. This speaks to the biggest misstep by any business the lack of a defined Governance Risk and Compliance program and the early adoption of a High standard Vendor Management. The management of risk in IT and in applications and development is key as much as it is for a business to recognize its own business risks.