Loss of Information, Data Breaches and Costs all Increase!

A new report from nCircle reveals over 94% of companies surveyed earlier this year believe breaches in security will increase in 2010.

http://www.ncircle.com/pdf/studies/nCircle-WP-2010TrendStudy-1062-01.pdf

This concern is reflected in the recent Information Breaches Survey 2010 which shows:

• 92% of large respondents has a security incident in 2009 with an average of 45 incidents
• The average cost for the worst security breach ranged from £280,000 to £690,000
• 83% of small companies had a security incident
• With an average cost ranging from £27,500 to £55,000
• 62% of respondents were infected with a virus during 2009
• 61% of large respondents ensure their contracts with third party providers include security provisions
• 46% of large respondents reported staff had lost or leaked confidential data
• 83% of respondents with highly confidential data at an external provider do not encrypt their data
• 19% of large respondents monitor what their staff post on social networking sites

Some of these statistics are very worrying and show the cost of a security breach has escalated significantly from 2009.

The economic impact over the last two years has had an effect on business across the globe and security measures tend to suffer in such climates. However, the application of appropriate measures that are proportionate to your requirements will provide a level of security to reduce risks to an acceptable level. The Information Security Management System (ISMS) known as ISO 27001 is an ideal platform to enable you meet these requirements and provide your staff, stakeholders and clients with the confidence that you are serious about security and they can be confident in you and your processes.

The statistic showing 46% of large respondents reported staff had lost or leaked confidential data is very worrying. It is a well establish fact that your employees are your weakest link in the security chain but with appropriate pre employment screening and on site security awareness training you can reduce the risk substantially and at a fraction of the cost of a security breach.

With the cost of damage to company reputation almost being incalculable can you afford not to implement these measures?

For more information visit http://www.infosec.co.uk/files/isbs_2010_technical_report_single_pages.pdf or contact info@agenda-security.co.uk for information about our ISO27001 consultancy services.

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