Centennial Software, a leading developer of IT security and asset management solutions, has issued a statement backing up figures released by a leading US security think tank, Ponemon Institute. Through a recent round of interviews with 56 US companies, Ponemon valued the average data leak per company at more than AU$6 million, with the average cost of a single stolen record increasing 31 per cent to AU$242.
The figures released by Ponemon Institute are quite alarming. The figures are however, not entirely unexpected. In cases of data theft, the costs associated with notifying staff, customers and shareholders alone is enormous, let alone the erosion of brand value, which can take years to recover.
The figures illustrate the potential impact data leaks or theft can have on a company’s bottom line, and reinforces the need for organisations to protect themselves from malicious action. This action can come in the form of an external attack on a company network, or from within the company itself.
A study by computer forensics company, Ibas, revealed 70 per cent of those surveyed admitted to stealing information from employers, including databases, address books, proposals and presentations.
Several companies are in the dark, when it comes to managing the flow of data onto and off the corporate network. The proliferation of portable devices capable of storing massive amounts of data, and the ready acceptance of these devices in the workplace mean data theft is only a mouse click away.
Centennial Software’s own local research reveals that 75 per cent of workers connect portable devices to the corporate network, while only 10 per cent of companies actually control the flow of data from the network onto such devices.
Centennial Software’s DeviceWall solution helps organisations manage the security of mobile devices, data, and desktops on the corporate network. Its policy-based Windows PC security solution manages access to removable media and data encryption, according to user privileges defined in the policy control centre. Its small client agent enforces the current user’s security privileges, regardless of PC location, and continues to enforce privileges be it on the corporate network or offline.