Tags: data breaches, data privacy, data protection, data security, data theft
IT people need to beef up their opinions about cloud security, says a recent report by the Ponemon Institute called “Data Breach: The Cloud Multiplier Effect.”
The report put together data from the responses of over 600 IT and IT security people in the U.S. The report has three observations:
- Many of the respondents don’t think that their companies are adequately inspecting cloud services for security.
- The cost of a data breach can be pricey.
- When a business attempts to bring its own cloud, this is the costliest for high value intellectual property.
- 72% of the participants thought that their cloud service providers would fail to notify them of a breach if it involved theft of sensitive company data.
- 71% believed this would be the same outcome for customer data breaches.
Many company decision makers don’t think they have a whole lot of understanding into how much data or what kind is stored in a cloud.
- 90% thought that a breach could result when backups and storage of classified data were increased by 50 percent over a period of 12 months.
- 65% believed that if the data center were moved from the U.S. to a location offshore, a breach could result.
All of these findings mentioned here are the result of self-estimations rather than objective analysis of real breaches.
Ponemon also determined that if a breach involved at least 100,000 records of stolen personal data, the economic impact could jump from an average of $2.4 million to $4 million, up to $7.3 million. For a breach of confidential or high-value IP data, the impact would soar from $3 million to $5.4 million.
In addition to the self-reporting loophole, the report had a low response rate: Only 4.2 percent of the targeted 16,330 people responded, and in the end, only 3.8 percent were actually used. Nevertheless, you can’t ignore that even self-estimated attitudes paint a dismal picture of how cloud security is regarded.
ROBERT SICILIANO, CEO of IDTheftSecurity.com is fiercely committed to informing, educating, and empowering Americans so they can be protected from violence and crime in the physical and virtual worlds. His "tell it like it is" style is sought after by major media outlets, executives in the C-Suite of leading corporations, meeting planners, and community leaders to get the straight talk they need to stay safe in a world in which physical and virtual crime is commonplace. Siciliano is accessible, real, professional, and ready to weigh in and comment at a moment's notice on breaking news.
- The $6.75 Million Dollar Laptop
Robert Siciliano Identity Theft Expert Dan Yost Chief Technology Officer of MyLaptopGPS brought attention to the Ponemon Institute, with sponsorship from PGP, has released their “Fifth Annual U.S. Cost of Data Breach Study.” As usual, the report is a treasure trove of great data (just like most people’s laptops are). The average cost per breached data record
- Credit Card Theft increasing for Banks and Retailers
2013 was the year of 740 million records involving data breaches. And that number may be erring quite on the conservative side, according to the Online Trust Alliance. The records come from a list on the Privacy Rights Clearinghouse Chronology Data Base. The list is that of publically disclosed breaches, including the alleged 110 million that struck
- Data Breach Response Planning 101
Don’t think in terms of “if” you’ll suffer a data breach, but rather, “when.” Once you establish this mindset, it’s time for you to develop a response plan. After all, a security system that’s impenetrable has yet to be invented. What’s even more, an amazing number of businesses don’t even have the best security system available.
- Data Breaches Up, Lost Records Down
According to a recent report from Verizon, data breaches are on the rise. There were 760 data breaches recorded in 2010, compared to 140 breaches in 2009. However, there were approximately four million records stolen in 2010, as opposed to 144 million stolen in 2009. This means there were fewer large-scale data breaches compromised of multimillions
- Identity Theft Expert; Data breaches continue to get more costly for businesses
Identity Theft Speaker Robert Siciliano www.IDTheftSecurity.com Article here; Data breaches continue to get more costly for businesses Ponemon Institute LLC is all the buzz this week after publishing a study showing the cost of a data breach has risen significantly. The study points to companies being hesitant to invest in security for numerous reasons that all