SALT LAKE CITY (AP) — A new study finds that a security slip exposing the personal information of 780,000 Utah residents was a costly mistake.
The Salt Lake Tribune reports that (http://bit.ly/16b77dt) in the aftermath of a 2012 health data breach, the state has spent about $9 million on security audits, upgrades and preventative measures for victims.
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Experts say the slip is among a growing number of data breaches linked to fraud.
The study from security analyst group Javelin Strategy & Research reports that an estimated 122,000 victims of the breach will fall prey to identity theft. Each of those victims will spend an estimated 20 hours and $770 resolving the fraud.
The report finds that banks and retailers will likely bear the brunt of the projected cost, which is over $400 million.
