Consumer Data Losses: 100 Times Worse According to New Report
A comprehensive data breach analysis and report, based on a four-year history of data breaches
reported in the U.S., suggests that incidents may be under-reported by a factor of 100. Instead of
the reported 1,100 incidents, the author of the study estimates 110,000. The vast majority of
breaches are reported by medium and large enterprises. These enterprises are dwarfed by a
hundred times more small entities. Each is highly vulnerable to information loss. Collectively, the
small ones have reported few losses.
Madison, WI (PRWEB) February 25, 2009 -- Public opinion and debate have been intense over government
economic recovery spending, estimated to exceed one trillion dollars. Yet few appreciate that the cost of sensitive
consumer information that is lost, stolen or inappropriately accessed exceeds a trillion dollars annually.
Dr. Joseph Campana, author of a new data breach study, said, "We pay for information losses in higher prices,
higher taxes, requests for more donations as well as through the personal inconveniences and costs of dealing with
identity theft and privacy violations when our information is misused."
The three major sectors -- private, public and volunteer -- were considered in the comprehensive data breach
study released today by J. Campana & Associates (http://www.JCampana.com). Breaches were analyzed by sector
and subsector with respect to sector populations, breach incidents, profiles compromised, breach types, sources of
breaches, and other key characteristics.
The Private Sector makes up 94% of all enterprises in the U.S., and the study reports it accounts for 37% of the
reported incidents. In contrast, the Public Sector composes less than 1% of all U.S. enterprises yet it accounts for
55% of all breaches.
According to the study, the disparity can be explained by examining who is reporting the data breaches.
Generally, large and medium size organizations are doing almost all of the reporting. Few reports are made b