Report: Data Breaches Getting More Costly to Prevent, Fix


Corporate data breaches are increasingly costly, according to a report by the Ponemon Institute.

The annual study, which is sponsored by IBM, looked at data breaches experienced by 350 companies in 11 countries during 2014. Breaches studied ranged in size from 2,200 compromised records to more than 101,000 compromised records.

Attacks on U.S. companies were the most costly, averaging $217 per stolen record. The global average was $154 per stolen record.

The average total cost of a corporate data breach worldwide was $3.79 million, a 23 percent increase since 2013, according to the study.

Researchers, who interviewed 1,500 corporate IT, compliance and information security personnel for the study, identified three main causes for the increases in cost of data breaches:

  • Cyber attacks have increased in both frequency and the cost to remediate their consequences.
  • Lost business as a result of attacks adds to the total cost.
  • Data breach costs associated with detection increased.

Read the full study HERE.

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