What’s the Real Cost of Data Breaches?

Protecting your data is a major priority, which is why you should make time to attend Cyber Security for Improved Resilience Against Threats, our DRI2014 session with Deloitte’s Damian Walch. It could save your company $3.5 million!

2-29 Drive CYBER Pic

That’s the estimate put forth via a study by the Ponemon Group, which says the average cost of a corporate data breach increased 15% in the past year. Put another way, that’s a loss of $145 per each stolen or lost record.

While malicious attacks and criminal attacks are the most common cause of a breach, other causes occur depending on region. For instance, while losses in Germany and Arabian regions were most likely to be criminal, system glitches and business process errors were common in India. Brazil and the U.K.’s most common cause? Human error.

Here’s the good news: The involvement of business continuity management reduced the costs of a breach by about $9 per record!

 

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