The average consolidated total cost of a data breach is $3.8 million, according to a Ponemon Institute study of 350 companies spanning 11 countries. This fantastic write-up comes from HelpNet Security. Here is the piece:
“The study also found that the average cost incurred for each lost or stolen record containing sensitive and confidential information increased six percent from a consolidated average of $145 to $154.
Healthcare emerged as the industry with the highest cost per stolen record with the average cost for organizations reaching as high as $363. Additionally, retailers have seen their average cost per stolen record jump from $105 last year to $165 in this year’s study.
Forty-seven percent of all breaches in this year’s study were caused by malicious or criminal attacks. The average cost per record to resolve such an attack is $170. In contrast, system glitches cost $142 per record and human error or negligence is $137 per record. The US and Germany spend the most to resolve a malicious or criminal attack ($230 and $224 per record, respectively).
Malicious attacks can take an average of 256 days to identify while data breaches caused by human error take an average of 158 days to identify.
The average global cost of data breach per lost or stolen record is $154. However, if a healthcare organization has a breach, the average cost could be as high as $363, and in education the average cost could be as high as $300. The lowest cost per lost or stolen record is in transportation ($121) and public sector ($68).”