Report: Data Breach Costs Rising, Now $4 million Per Incident
IBM & Ponemon Institute study results show "time is money" when responding to a data breach; incident response teams can lead to significant cost savings.
IBM Security has announced the results of a global study analyzing the financial impact of data breaches to a company's bottom line. Sponsored by IBM and conducted by the Ponemon Institute, the study found that the average cost of a data breach for companies surveyed has grown to $4 million, representing a 29% increase since 2013.
Cybersecurity incidents continue to grow in both volume and sophistication, with 64% 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.