How much do data breaches really cost?

We've seen a lot of shocking data breaches as of late; JPMorgan's was a good example. But how much do they cost? According to a recent study by the IT Policy Compliance Group, businesses that report major incidents experience a drop in quarterly revenue, 8 percent for small companies and 12 percent for large companies. The cost of litigation and customer notification will average about $100 per each record lost. These are not trivial costs. The estimates are low, because there could be fines and regulatory tasks that must be undertaken. As well, how do you figure in the losses to your brand. Given the high stakes, it is somewhat surprising that the report found that 90 percent of companies do not have adequate systems in place to prevent data breaches. Something to think about.  

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- here's an article