The Risk Is Real
An estimated 6,000 private records were lost or stolen in the past two years because a mobile device with personal data was lost or stolen, according to the report. Organizations represented in the research each acknowledged, on average, about five such incidents between 2011 and 2013. Nearly half said at least one of the breaches required the organization to notify regulatory authorities, and 39 percent required notification of victims. The cost can add up financially, in a loss of reputation and of customers, Ponemon Institute founder Larry Ponemon said. Companies are vulnerable to lawsuits for gross negligence and class action litigation. "So it's a big deal," Ponemon said.