2007 Data Breaches Not As Bad As We Think; Reports of record year in 2007 for compromised records and identity theft based on a lot of soft numbers and liberal assumptions. Exaggerations mask the real problem: user and policy stupidity

If the same number is applied to the TJX's data breach--the worst thus far with 94 million records exposed--the retailer's cost alone should be $18.5 billion. That number is complete fallacy, since court filings and publicly declared fines put the actual cost - mostly penalties - at $256 m...

Full description

Saved in:
Bibliographic Details
Published in:Baseline 2008-01 (80)
Main Author: Walsh, Lawrence
Format: Article
Language:English
Subjects:
Compromises
Data encryption
Data integrity
Fines & penalties
Fraud
Government agencies
Identity theft
Portable computers
Security management
Statistical data
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:If the same number is applied to the TJX's data breach--the worst thus far with 94 million records exposed--the retailer's cost alone should be $18.5 billion. That number is complete fallacy, since court filings and publicly declared fines put the actual cost - mostly penalties - at $256 million. Some would say the cost of repairing the reputation of TJX--parent company of clothing retailers TJ Maxx and Marshall's--is much higher.
ISSN:1541-3004