How important is data security to you and your organization? Dumb questions isn’t ….. or is it ? Of course security is important to your organization. With all the cyber attacks taking place and growing by the day nothing is safe or sacred in the world of technology. You invest all kinds of money on keeping your data secured to prevent cyber attacks but, what about those retired hard drives that you removed from service sitting …. heaven only knows where.Why worry about them? There stored somewhere on-site … or is it off -sites or maybe they were turned over to a third party for destruction.
One of the most overlooked issues pertaining to data security within organizations is the proper handling and securing of retired hard drives. How secured are they. In most organizations the securing of the retired hard drives are not even given a second thought. The thinking or mindset is that as long as the hard drives are out of services and stored on -site or off-site everything is okay. Really ?
IBM Security and the Ponemon Institute in June of 2017 produced a study called The Cost of Data Breach in Canada. This is the third benchmark study on the cost of data breach incidents for companies located in Canada.
The average per capita cost of a data breach decreased from $278 in 2016 to $255 2017 and the average total cost decreased from $6.03 million to $5.78 million.
To date, 72 Canadian companies have participated in the study over the past three years.
CANADA AT A GLANCE
27 Canadian companies participated
$ 5.78 million is the average total cost of a data breach Canada
4% decrease in the total cost of data breach
$255 is the average cost per lost or stolen record
That is a 9% decrease in the cost per lost or stolen record