It is much more difficult to put an accurate and realistic figure on many of the other ‘softer’ knock-on effects of a security breach. Something else that must be added in (for companies who use computers as part of their business) is lost revenue. This can vary wildly, depending on the nature of an organisations business. Online retailers, or others whose central business model relies on online sales, will find it easy to calculate loses. Others may not be so concerned.
Loss of reputation is probably the most contentious issue, and the one that the majority of security technology vendors tout as the ‘justification’ for purchasing their products. And don’t forget insurance deductibles. Our friends in TKX have sweaty palms at the very thought. And if you ask me, rightly so.
Predictably, I will end by saying that it pays to invest upfront in IT security, be it technology, training, policy initiatives or prevention mechanisms. In fact, we might even be able to prove it.
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