According to a study conducted by the Verizon RISK Team with cooperation from the U.S. Secret Service and the Dutch High Tech Crime Unit, 3.8 million data records were compromised across 760 reported data breaches in 2010. The study indicated a significant decrease in the number of compromised records from the prior two years. In 2008 and 2009, the number of records compromised were 361 million & 144 million, respectively. The declining trend of data breaches was attributed to the collaborative effort between the US Secret Service and the industry to combat computer cybercrimes and increased security awareness. In this CFO report, Raising the Standard-Protecting Your Company Information Assets and Data, Peter Kiilu, a computer forensic and IT security expert reviews the key findings and learning points from the Verizon 2011Data Breach Investigations Report. He also suggests best practice controls that companies can implement to significantly reduce the risk of data breach and the related financial losses.
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