Why should your business be concerned about security, privacy and business continuity?
Consider these frightening trends:
- More than 52,000 security incidents were reported in 2001. That’s up 142% from 2000 and is expected to be double this number by end of year. *
- 90% of U.S. companies experienced some type of security breach in 2001. **
- 40% of businesses that experience a major incident and don’t have recovery plans in place will be out of business within 12 months of the incident. ***
- The average incident investigation costs between $75,000 and $750,000.*
- Investigations involving regulatory bodies (such as FFIEC or the FTC) cost between $2 million and $5 million – even with no admission of wrong-doing. *
- More than $76 million in settlements/judgments have been awarded by regulatory bodies since 2000. *
- Fewer than half of companies with business continuity plans in place actually meet their recovery objectives.
- Security dollars spent on prevention have a proven 8x to 17x return on investment when compared to the cost of an incident.
* Source: FBI 2001 Figures
** Source: Telecomworldwire, April 8, 2002
*** Source: Analyst firm, Gartner