The Privacy Clearinghouse’s Chronology of Data Breaches enlisted that there are 3,671 cases of data breaches that are reported since 2005. These 3,671 cases of data breach have affected more than 650 million of records. These cases include:

• A theft of credit card, bank accounts and other information by a worker, the theft solely affected 8.5 million records.
• A laptop that contained information like social security number, date of birth, and other confidential about former employees of the company got stolen.

Today, the majority of the companies like to keep personal information of the clients as well as the employees. The recent studies of The Institute of Ponemon shows, misplacing of or theft of laptop, USB flash drive, use of malware software and any other kind of data breach results in a loss of $5.5 million on an average. The direct or indirect cost on a data breach may cost…