How costly is an information security breach?

As data breaches increase, so does the cost of fixing them. According to research by the Identity Theft Resource Center, in 2015, there were 619 recorded breaches that led to more than 175 million records being compromised.

One way to boost security and reduce the chances of a breach involves purchasing an ID card printer. Doing so will allow you to maintain tighter control over who can access valuable information.

How costly are breaches?

Ponemon’s 2014 Cost of Data Breach: Global Analysis showed that breaches cost about US$3.5 million per incident, which is 15 percent greater than 2012’s figures. The study predominantly used data from 2013 and while newer cost statistics are hard to find, there are some salient individual cases.

In 2014, cybercriminals targeted Home Depot, which left 56 million credit and debit card numbers exposed.

Although Home Depot fixed the malware intrusion and contained the breach, it had wider repercussions.

The company is currently facing 44 law suits filed in courts across the U.S. and Canada. A survey conducted by the Credit Union National Association showed that the breach cost Ohio credit unions $60 million to reissue cards, contain fraud and cover associated costs.

What can I do?

One way you can improve the security around your workplace is by purchasing an ID badge printer with custom HoloKote and Holopatch security images.

Hardware such as the PPC ID 3300 card printer will help you produce a robust ID verification system. With a three year warranty, the ID 3300 adds a secure watermark to the card during the printing process.

But remember, it is important to fit the printer to your goal, not the other way around. Come and talk to PPC, Australia’s ID card printing specialists, and discover how we can help you.