‘Endpoint security gets complicated’ reads a news headline on a popular IT news Website. Another news Website carried an article on ‘critical gaps in hospital data security’. A third Website carried a story on laptops stolen from the Justice Department. Shocking!

“High-profile data breaches underscored the importance of data loss prevention technologies and strategies,” says Oliver Friedrichs, director of security response at Symantec Corp. “Most breaches are due to physical loss of equipment. Theft or loss of computer or other data storage medium made up 46 percent of all data breaches.”

Despite security issues in its myriad forms staring down at us at close quarters, we continue to remain lax. When would companies’ attitude change?

Commenting on the recent issue of a major US health insurance company being sued by the Connecticut state attorney general’s office for loss of client data and lack of appropriate notification, IT security expert Dr Prof. Sachar Paulus says, “Such cases are increasingly often reported from especially US companies as apparently they have less IT controls in place to prevent data theft or loss. Especially consumer data is highly sensible.”

“The issue can absolutely not be forgiven, since there are standard products available doing the job with a small amount of administration.”

“The biggest risk for the company is the reputation damage they will be exposed to. Consumers tend to move to service providers that handle their interests with care, and especially their data. On the long run, only companies will survive that adequately protect customer data, especially consumer data.”

A single stolen laptop can cost a company over $4,556.00. However, that does not include the value of the lost or stolen data!

“How could such a company survive the migration to the Cloud? Since they are not even able to protect data on classical hard disks, how will they achieve the necessary data protection in open, service-based environments? I doubt they will have a chance,” he said.

IDC had predicted that over 45% of all PCs in the world will be laptops by 2009. According to a 2008 study sponsored by Dell, over 15,600 laptops are lost per week by business travelers in US and European airports alone!

IDC had predicted that over 45% of all PCs in the world will be laptops by 2009. According to a 2008 study sponsored by Dell, over 15,600 laptops are lost per week by business travelers in US and European airports alone!

A single stolen laptop can cost a company over $4,556.00. However, that does not include the value of the lost or stolen data! The average cost of lost records containing personal information is $197 per record with an average loss of 31,979 records. A data breach is estimated to be a net loss of $6.3 million.

Rapidly changing government data regulations also needs to be addressed. Regulations such as HIPAA, PCI DSS, and Sarbanes-Oxley require robust electronic data protection management. Such laws require protection of credit card information, health records, and financial records.

The cost of lawsuits and legislative compliance related fines can be substantial simply due to lost, stolen, or even just unprotected data. Companies should also be wary of irreversible damage to corporate reputation because of data breaches.

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