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| How to Minimize the Impact of Laptop Theft |
Laptops have enabled us to work whenever and wherever we choose, greatly enhancing our productivity, but they also put huge volumes of confidential data at risk. When a laptop is lost or stolen, its resale value no longer depends on value of the hardware. It is all about the data.In 2005, laptop theft alone accounted for 33 percent of reported data breach events, according to the Privacy Rights Clearinghouse. Laptops often contain corporate information, customer data and intellectual property, which, if unprotected, could undermine competitive advantage or force the organization to publicly acknowledge the possibility of a data breach, as in the case of the VA and many others. Such incidents may result in millions of dollars in customer notification costs, noncompliance fines, possible federal and class action lawsuits as well as brand damage.
According to a recent study by the Ponemon Institute, the average cost of a consumer data breach is $182 per record. Ponemon analyzed 31 different incidents, with total costs for each ranging from $226,000 to more than $22 million. Typical costs include legal, investigative, administrative expense, as well as stock performance, customer defections, opportunity loss, reputation management and costs associated with customer support such as informational hotlines and credit monitoring subscriptions. How to Minimize the Impact of Laptop Theft - Weigh In - weighin - CIO Linked by LT Hacker
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