Survey: Breaches Cost Firms $7.2 Million Per Incident

  • The Wall Street Journal


  • MARKETS
  • JUNE 9, 2011, 6:28 P.M. ET

BY APARAJITA SAHA-BUBNA

The hacking incident at Citigroup Inc. could cost the company millions of dollars for customer notifications, card replacements and defections by jittery account holders.

The attack, which affected 1% of Citi’s North American bank card customers, is one of a string of breaches world-wide, underscoring how widespread corporate breaches have become.

Such breaches cost companies, on average, $7.2 million per incident in 2010, according to a survey by the Ponemon Institute, a research organization focused on information security policy. …

Full article: http://online.wsj.com/article/SB10001424052702304778304576376043897268466.html?KEYWORDS=breach

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