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Identity Theft Prevention Spending to Soar This Year, According to an Upcoming BusinessWeek Special Ad Section Promoting Data Protection Solutions

Senior business executives are pushing the panic button over identity theft and the protection of other confidential information assets within their systems. The numerous identity theft incidents—the lost Veterans Administration files and high-profile disclosures from ChoicePoint and CardSystems—over the past year has led to a blizzard of new mandates from government agencies as well as industry consortia eager to portray themselves as responsible stewards of confidential information.

The financial losses, bad publicity and regulations—more than 20, with more on the way—have triggered a huge demand for information about how to prevent identity theft and otherwise better protect confidential information. And recent surveys indicate that spending on ID theft and protecting other types of data remains a high priority.

Here are several key data points:

  • A January Forrester survey found that 41 percent of executives were worried about identity theft, up dramatically from the 12 percent from the prior year
  • 46 percent of those polled by Forrester said they will build two-factor authentication into their systems
  • Last week, Gartner Analyst Avivah Litan noted that the cost of personal data protection can be as little as $6 per account, but the cost of rectifying a data breech can be as much as $90 per account: "Protecting your data is well worth the investment" is the understatement of the week.
  • Our special ad section on identity theft published in the March 20 issue of BusinessWeek attracted more readers than any other section in the past five years.

In response to the intense interest from BW readers for more information about data protection, we're preparing another special ad section to run in the August 21 issue. This section will highlight new threats—all those USB flash drives and other forms of mobile devices, and wireless access from anywhere—as well as the new solutions.

To get more information about this section, or to discuss custom research about BW readers' views on security spending, please give me a call (617-244-0698) or drop me an e-mail.

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The data and charts are (c) 2006, The McGraw Hill Companies. All rights reserved. This e-mail newsletter is (c) 2006, Triangle Publishing Services Co. Inc. All Rights Reserved.

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