in

This Blog

Syndication

Tags

News

AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

Archives

AlertBoot Endpoint Security

AlertBoot offers a cloud-based full disk encryption and mobile device security service for companies of any size who want a scalable and easy-to-deploy solution. Centrally managed through a web based console, AlertBoot offers mobile device management, mobile antivirus, remote wipe & lock, device auditing, USB drive and hard disk encryption managed services.

Disk Encryption Software: Canada 2009 Hi-Tech Breach Costs Double From Last Year

According to the ottawabusinessjournal.com, a new study from TELUS and the University of Toronto's Rotman School of Management has found that the average cost of a data breach in Canada has doubled from 2008's figures, to $834,000 (Canadian dollars, I assume).  While it can't prevent all breaches, the use of drive encryption software like AlertBoot would definitely have put a dent on those figures.

600 Polled, Gov't And Private Companies Most Affected

According to the poll:

  • Costs related to data breaches increased, from $423,000 to $834,000, a 97.2% increase
  • Average number of breaches per company increased from 3 to 11.3, almost four times as high
  • Government organizations costs increased over 200%; private companies' costs increased 174.5%; and publicly-traded companies saw a 6% increase (that last one is not a typo).

As I expected while reading the article, the increases were attributed higher detection levels, in keeping with new compliance regulations that were passed recently.

Of course, not all the breaches were, nor could they be, attributed to the new regulations; however, when you take into consideration that regulations were updated only for private companies and government organizations, it explains why publicly-traded companies didn't see a corresponding spike in terms of reported breaches or associated costs.

Legislation Works

Per my research, many countries have either passed laws or are debating passing legislation that requires companies to report data breaches.  There are opponents, of course (there's always opponents to any kind of new legislation.  Speaking of which, did you know the tomato is classified as vegetable in the US for tariff purposes only?  Botanically, it's still a fruit).

Arguments against the revelation of data breaches includes the fact that they're expensive--legislation usually requires that people be contacted via mail...the paper kind.  Plus, according to a study, notifications don't decrease incidents of future breaches (the idea behind the breach announcements is to "shame" the companies into better protecting sensitive data).

The counterargument is you can't fix something if you don't know that something's wrong.  I wholly agree.

Furnishing A Solution - Encryption Software

Let me give you an example.  Encryption software has been around for a while (think late 1970s).  And, yes, they were hard to implement on computers initially, but things got easier as time progressed.  (Today, the harder aspect, one could argue is managing encryption as opposed to implementing it.)

And yet, most people are not using it to protect the contents of their laptops.  At the same time, the theft of laptops and other mobile devices have gone up: it has jumped 56% in Canada, according to the news site, which most probably has led to instances of data breaches. (Actually, one wonders whether thefts went up 56%, or the report of thefts went up 56%...I would imagine it's the latter.)

Had organizations not been forced to reveal their data breaches...well, my guess is that it would be business as usual for them.  But now that they've got to make these announcements, they're open to criticism as well as suggestions.  If management had not known that encryption like AlertBoot was available as a solution, now they know.


Related Articles and Sites:
http://www.ottawabusinessjournal.com/295534920388939.php

 
<Previous Next>

Laptop Encryption Software: Jubilee House In Blackburn Loses 15 Computers

Data Protection Software: Express Scripts Back In The News (Again)

Comments

No Comments

About sang_lee

Sang Lee is a Senior Account Manager and Security Analyst with AlertBoot, Inc., the leading provider of managed endpoint security services, based in Las Vegas, NV. Mr. Lee helps with the deployment and ongoing support of the AlertBoot disk encryption managed service. Prior to working at AlertBoot, Mr. Lee served in the South Korean Navy. He holds both a B.S. and an M.S. from Tufts University in Medford, Massachusetts, U.S.A.