According to report released this morning by IBM Ponemon and the Institute a, the cost per- file of a data reached breach $ 154 $this to year, up 12 percent from last year’s single145. Additionally, the average total cost a of breach data rose 23 percent $3.79 million.
The cost of data breaches for companies is rising as cybercriminals’ sophisticated methods target valuable data and medical records, according to research by IBM’s Ponemon Institute. The healthcare industry is at the highest risk of breaches, with the average cost reaching as much as $364.
The loss suffered by a business is a significant part of the total cost of a data breach. The higher the customer turnover, the higher the customer acquisition costs, and a “hit” to a company’s reputation adds to the cost of more than $1.57 million per business, up from $1.33 million in previous years, according to a statement from Ponemon Institute president and founder Larry Ponemon.
The average total cost of a breach is now $3.8 million, up from $3.5 million last year, while direct costs include hiring specialists to “fix” breaches, investigating causes, and establishing communication channels with customers. At the same time, the loss of business due to customers knowing about breaches is even greater.
The cost of a data breach is $154/file, up from $145 last year.
The Ponemon Institute analyzed results from 350 businesses in 11 countries, each of which had suffered a breach in the previous year.
