Average total per-incident costs related to a Data Breach in 2007 were $6.3 million.
The 2007 Annual Study by the
Ponemon Institute on the Cost of a Data Breach shows that the cost of failing to protect customers' private data is on the rise.
According to the study, data breach incidents cost companies $197 per compromised customer record in 2007, compared to $182 in 2006. Lost business opportunity, including losses associated with customer churn and acquisition rose 30 percent from $98 in 2006 to $128 in 2007.
Do you have a Awareness Training program in place to satisfy requirement 12.6 of the PCI Data Security Standard?
12.6- Implement a formal security awareness program to make all employees aware of the importance of cardholder data security.
12.6.1 Educate employees upon hire and at least annually (for example, by letters, posters, memos, meetings, and promotions)