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The cost of cybercrime is increasing

by on October 23, 2012

Employing data encryption and backup tape management procedures help companies maintain control over their archives and create better, safer resources. No matter the kind of devices making requests, the number of inquiries or the growth of data resources, these tools can be reinforced and scaled to meet the challenges. That is, when they are employed correctly.

The rise in data breaches and the costs businesses are incurring due to these attacks shows that something is most likely wrong with the state of IT security and management. Since backup tapes have been around for more than 60 years, it seems looking at emerging solutions may help show where the gaps lie.

New technology, not enough timeMoving to the cloud is probably the most highly-referenced reason data protection failures. Property Casualty 360 and CFO Online both name it as a leading cause. Other studies have pointed out that many companies are trending toward 100 percent cloud adoption without backup tape or other resources to protect them.

What’s more, the cost of repairing breaches is on the rise on an individual business basis. A Symantec and Ponemon Institute study found that overall expenses for theft had declined, but the price tag per affected entity was higher. An independent Ponemon study, reported by eSecurity Planet, stated that recovery time is much longer today than n years past, compounding initial information loses with downtime expenses. Without solid backup management resources, these companies wound up spending far more than they might have otherwise.

Are deterrents working?Despite there being a plethora of information on the topic of data breaches available to the IT world, there has not been enough change in the cybercrime landscape. As matters stand, it seems that some personnel are not learning from the painful lessons of others, and therefore government agencies are now stepping up to further impress these ideas on private entities.

Public Service Online wrote the National Health Service is currently imposing penalties on companies that do not comply with proper records handling procedures. Especially in the field of medical documents, it is essential that proper transportation and security be observed, and for those that choose to ignore these guidelines and risk exposing sensitive patient information, hefty fines could be forthcoming. Instead of putting all these records haphazardly in the cloud or virtual storage, tape tracking software can keep these files safe and still remain in compliance with federal HIPAA laws.

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