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24/09/2013 PROFILE > Crédit Manager / Gestion des risques

French companies: the cost of infringement of electronic data

According to the 4th edition of the "Cost of Data Breach" survey published by Symantec Corp and Ponemon Institute, the costs related to breaches of data for French companies increased by 11 % in 2012 compared with 2011.
Moreover, according to a recent survey undertaken by Iron Mountain and PwC, French companies do not always grant themselves sufficient resources to deal with these risks. Within the space of a year, breaches observed by companies may have increased by 50%. Over 9 in 10 companies, with over 250 employees (93%), were victims of a breach or theft of data last year, which may represent losses of up to 1 million euros.  
According to this most recent survey undertaken, over two thirds (68%) of people surveyed believed that a responsible approach to data protection is essential for business success. This would appear to show awareness by decision-makers. However, less than one half of companies implemented a risk management strategy for computer risks and any control mechanism for its effectiveness. One of the factors underlying this lack of implementation of an IT security strategy resides in the final statistic highlighted by the survey: 60% of companies grant priority to cost reduction over risk reduction.

Access the 4th edition of the "Cost of Data Breach" survey published by Symantec Corp and Ponemon Institute

Access the PwC and Iron Mountain survey: Beyond awareness: the growing urgency for data management in the European mid-market