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IBM & Ponemon Institute Study: Data Breach Costs Rising, Now $4 million per Incident

CSR Thoughts...

According to a study from the International Business Machines Corp. and the Ponemon Institute, the average cost of a data breach for companies surveyed has grown to $4 million, representing a 29% increase since 2013.  The report shows that leveraging an incident response team was the biggest factor associated with reducing the cost of a data breach.  Disclosing the breach to appropriate government/regulatory officials and consumer notification is extremely complex and time consuming.   With the CSR Breach Reporting Service, privacy experts can provide breach reporting and assist our customers with consumer notification as well, eliminating some of the stress caused by a breach.



PR Newswire

Cybersecurity incidents continue to grow in both volume and sophistication, with 64 percent more security incidents reported in 2015 than in 2014.1 As these threats become more complex, the cost to companies continues to rise. In fact, the study2 found that companies lose $158 per compromised record. Breaches in highly regulated industries were even more costly, with healthcare reaching $355 per record – a full $100 more than in 2013.