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.