Cost, Frequency of Data Breaches Going Up
CREDIT: Data Breach Image via Shutterstock
Corporate data breaches are becoming more common. In the past 18 months, 51 percent of companies said they had at least one security breach, according to a recent survey.
Not only are data breaches becoming more common, they are becoming more expensive as well.
Eighteen percent of companies said losses from data breaches were more than $500,000, and another 8 percent said they had losses of more than $1 million. Two percent of companies said they had losses of more than $10 million.
Companies are having a hard time protecting themselves from security breaches for a variety of reasons.
More than 70 percent of companies said they lacked the right security technologies for development. An additional 71 percent said that they lacked the funding needed to invest in security measures needed to protect companies from data breaches.
More than 40 percent of companies said that they did not have the time to push security into development. Overall, respondents said that integration was the top challenge in preventing data breaches.
"It's clear that security practitioners and developers aren't speaking the same language when it comes to application security, and this is leading to very costly consequences for companies," said Jennifer Johnson, vice president of marketing at Coverity, the development testing company that conducted the research.
"Application security begins and ends with development," Johnson said. "Developers need to be part of the solution but the industry won't solve the problem until security is incorporated into the development process with technologies and processes that developers can understand and adopt. Force-feeding development with legacy tools built for security teams just isn't working."
The research was based on the responses of 240 software developers for companies that develop Web applications in North America and Europe. The research was a part of "The Software Security Risk Report."