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The Confident SMB
Showing posts tagged with Data Breach
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Kelvin_Kwan | 23 Jan 2013 | 0 comments

Just two weeks ago, a non-profit healthcare provider was slapped with a $50,000 fine from the Department of Health & Human Services (HHS) for violating the HIPAA security rules, after losing an unencrypted laptop containing the sensitive personal information of 441 patients. This is the first HHS penalty for a data breach involving less than 500 victims.

For small healthcare providers, this signals an escalation in the consequence of a data breach, as organizations will be held accountable regardless of size. A fine of $50,000 is a lot of money for a small practice, especially a non-profit provider.

As we’ve discussed in the past, the average cost per record of a healthcare data breach is $240, which is 24 percent higher than average. As fines become more common, healthcare organizations of all sizes need to make sure patient data is managed appropriately.

A complete...

Dal Gemmell | 10 May 2012 | 0 comments

Careless employees continue to cost companies millions. That’s one of the key takeaways from the 2011 Cost of a Data Breach Study released last month by Symantec and the Ponemon Institute, which provides valuable insight into the data breaches that occurred during the past year.

Negligent insiders were the top source of data breaches in 2011, causing 39 percent of all breaches in the study.  Just behind negligence, malicious attacks caused 37 percent of all breaches and were the most expensive type of breach, averaging $222 per lost record.

Overall, the average organizational cost of a data breach was $5.5 million last year, and the cost per lost or stolen record was $194. It’s important to remember that although there was a reported decrease in data breach costs, the financial consequences of data breaches are still very significant, especially for an SMB.

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