The growing incidents of data theft has forced businesses to start spending more on protecting their data. The reputation of businesses are now at stake. Losing confidential customer data can be a big PR nightmare for the company.
For companies, data loss can be expensive. When customer data is stolen or misplaced, it can cost businesses more than $90 per exposed account counting legal expenses, clean up and recovery, and communications costs, said Gartner. And that’s not counting the damage to the comapanies’ reputations from the public disclosure of the loss.
Read more about what businesses are doing to help address this issue at the Red Herring.