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IT security breaches have cost several high-visibility executives their jobs over the last few years, according to Information Week.
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The average total cost of a data breach is now $3.79 million, according to a study by IBM and the Ponemon Institute.
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Given the vulnerability of IT systems, CIOs cannot underestimate the importance of doing all they can to protect data.
Dive Insight:
Not only can a data breach result in CIOs losing their jobs — as witnessed by several high-visibility incidents over the last several months — but it is also extremely expensive to the affected business and can often drive customers away in droves. In the case of the OPM breach, there may even be long-term implications for national security.
CIOs must therefore ensure security is among their highest priorities, though experts say a determined attacker may be able to infiltrate even the most sophisticated organization.