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Tag: cost of data breach
2011 Cost of Data Breach: India
March 4, 2012, 4:06 am

Symantec Corporation and the Ponemon Institute are pleased to present 2011 Cost of Data Breach: India, our first annual benchmark study concerning the cost of data breach incidents for Indian-based companies. For organizations in India, the cost of data breach is 2,105 INR (India Rupee) for one compromised record.

2011 Cost of Data Breach: France
March 3, 2012, 1:20 am

(click to download study) Symantec Corporation and the Ponemon Institute are pleased to present 2011 Cost of Data Breach: France, our third annual benchmark study concerning the cost of data breach incidents for French-based companies. For organizations in France, the cost of a data breach continues to rise. In 2011 the cost of one compromised record increased from €98 to €122.

2011 Cost of Data Breach: Australia
March 2, 2012, 12:00 am

(click to download study) Symantec Corporation and the Ponemon Institute are pleased to present 2011 Cost of Data Breach: Australia, our third annual benchmark study concerning the cost of data breach incidents for Australian-based companies. For organisations in Australia, the cost of a data breach continues to rise. In 2011 the cost of one compromised record increased from AUD $128 to $138.

2011 Cost of Data Breach: Germany
March 2, 2012, 12:00 am

(click to download study) Symantec Corporation and the Ponemon Institute are pleased to present 2011 Cost of Data Breach Study: Germany, our fourth annual benchmark study concerning the cost of data breach incidents for German-based companies. For German organizations the cost of a data breach continues to rise. In 2011 the cost increased from €138 to €146 on a per capita basis.

2011 Cost of Data Breach: Japan
March 1, 2012, 2:30 am

 (click to download study) Symantec Corporation and the Ponemon Institute are pleased to present 2011 Cost of Data Breach: Japan, our first benchmark study concerning the cost of data breach incidents for Japanese-based companies. For organizations in Japan, the cost of data breach is ¥11,011 for one compromised record. 

 

2011 Cost of Data Breach: United States
March 5, 2012, 12:00 am

(click to download study) Symantec Corporation and Ponemon Institute are pleased to present 2011 Cost of Data Breach Study: United States, our seventh annual benchmark study concerning the cost of data breach incidents for U.S.- based companies. While Ponemon Institute research indicates that data breaches continue to have serious financial consequences for organizations, there is evidence that organizations are becoming better at managing the costs incurred to respond and resolve a data breach incident. In this year’s study, the average per capita cost of data breach has declined from $214 to $194. 

2013 Cost of Data Breach: Global Analysis
May 28, 2013, 12:00 am

We are pleased to present the 2013 Cost of Data Breach: Global Analysis, our eighth annual benchmark study concerning the cost of data breach incidents for companies located in nine countries. (Click to download study)

Ponemon Institute Releases 2014 Cost of Data Breach: Global Analysis
May 5, 2014, 10:15 am

Throughout the world, companies are finding that data breaches have become as common as a cold but far more expensive to treat. With the exception of Germany, companies had to spend more on their investigations, notification and response when their sensitive and confidential information was lost or stolen. As revealed in the 2014 Cost of Data Breach Study: Global Analysis, sponsored by IBM, the average cost to a company was $3.5 million in US dollars and 15 percent more than what it cost last year.

Will these costs continue to escalate? Are there preventive measures and controls that will make a company more resilient and effective in reducing the costs? Nine years of research about data breaches has made us smarter about solutions.

Critical to controlling costs is keeping customers from leaving. The research reveals that reputation and the loss of customer loyalty does the most damage to the bottom line. In the aftermath of a breach, companies find they must spend heavily to regain their brand image and acquire new customers. Our report also shows that certain industries, such as pharmaceutical companies, financial services and healthcare, experience a high customer turnover. In the aftermath of a data breach, these companies need to be especially focused on the concerns of their customers.

As a preventive measure, companies should consider having an incident response and crisis management plan in place. Efficient response to the breach and containment of the damage has been shown to reduce the cost of breach significantly. Other measures include having a CISO in charge and involving the company’s business continuity management team in dealing with the breach.

In most countries, the primary root cause of the data breach is a malicious insider or criminal attack. It is also the most costly. In this year’s study, we asked companies represented in this research what worries them most about security incidents, what investments they are making in security and the existence of a security strategy.

An interesting finding is the important role cyber insurance can play in not only managing the risk of a data breach but in improving the security posture of the company. While it has been suggested that having insurance encourages companies to slack off on security, our research suggests the opposite. Those companies with good security practices are more likely to purchase insurance.

Global companies also are worried about malicious code and sustained probes, which have increased more than other threats. Companies estimate that they will be dealing with an average of 17 malicious codes each month and 12 sustained probes each month. Unauthorized access incidents have mainly stayed the same and companies estimate they will be dealing with an average of 10 such incidents each month.

When asked about the level of investment in their organizations’ security strategy and mission, on average respondents would like to see it doubled from what they think will be spent—an average of $7 million to what they would like to spend—an average of $14 million. This may be a tough sell in many companies. However, our cost of data breach research can help IT security executives make the case that a strong security posture can result in a financially stronger company.

To download the complete report please use the following link:

www.ibm.com/services/costofbreach
 

 

2014 Cost of Data Breach: Global
June 1, 2014, 12:00 am

Ponemon Institute released its ninth annual Cost of Data Breach Study: Global Analysis, sponsored by IBM. 

2014 Cost of Data Breach: United States
June 2, 2014, 2:46 pm

IBM and Ponemon Institute are pleased to present the 2014 Cost of Data Breach Study: United States, our ninth annual benchmark study on the cost of data breach incidents for companies located in the United States. 

2015 Cost of data breach: Global
May 25, 2015, 12:00 am

Ponemon Institute is pleased to present its ninth annual Cost of Data Breach Study: Global Analysis, sponsored by IBM. According to the benchmark study of 314 companies spanning 10 countries, the average consolidated total cost of a data breach increased 15 percent in the last year to $3.5 million . The study also found that the cost incurred for each lost or stolen record containing sensitive and confidential information increased more than nine percent to a consolidated average of $145.

To download the complete global report and country reports please use the following link:
www.ibm.com/services/costofbreach

Why Companies Need BCM Before They Have a Data Breach
June 15, 2016, 9:00 am

By Dr. Larry Ponemon, Chairman and Founder, Ponemon Institute

We are pleased to announce the release of the 2016 Cost of Data Breach Study: The Impact of Business Continuity Management (BCM), in partnership with IBM.  This year we studied how organizations are using BCM in 12 different countries, 383 companies across 16 industries.

According to the research, BCM programs can reduce the per capita cost of data breach, the mean time to identify and contain a data breach and the likelihood of experiencing such an incident over the next two years. 

 

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