What does a data breach cost?

This Friday, 5:45pm - Your company's star financial analyst is on her way home and needs to drop by the grocery store to pick up dinner. On the passenger's seat is her laptop, freshly loaded with the customer database to help prepare a report for Monday.

fShe’s in the store for 20 minutes and returns to find a window broken and her laptop gone. The cost to replace the laptop: $1,700 — the cost of losing the data: more than the analyst, your CEO, and the board of directors could ever imagine.

Sound familiar? Hopefully not, but variations on this scenario are becoming commonplace. The US Privacy Rights Clearinghouse reports that since 2005 almost 150 million individuals’ personally identifiable information has been compromised due to a data security breach.

The breach of TJX Corporation’s systems (parent of T.J. Maxx), resulting in the theft of 45 million credit card numbers and other personal details, shows that this trend continues to grow.

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