Wednesday, October 31, 2018

How Much Does a Data Breach Cost?

Written by Rob Marvin

 Article from PC MAG

Data breaches are a terrifying reality for every company that does business on the internet—which is all of them.

 No matter what endpoint protection, encryption, and security you put in place, there's always a chance your sensitive customer information might be part of the next trove of data to leak online.

 There are all sorts of things not to do when your poor server is the one that's breached, but one way or another, it's going to cost you.

 According to the latest Cost of a Data Breach study by IBM and the Ponemon Institute, in the US, the average incident could cost a company upwards of $7.9 million.

 The 13th annual report found that the global average cost of a data breach is up 6.4 percent over the previous year to $3.86 million, and the average cost for each lost or stolen record containing sensitive and confidential information also increased by 4.8 percent year over year to $148 per record.

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