Data Breach Costs Soaring

Businesses now lose on average $158 (£112, €141) for every record that is compromised.

By Steve Evans

New research from IBM and the Ponemon Institute has revealed that data breaches now cost an average of $4 million, up a startling 29% since 2013.

Part of that rise is the frequency and sophistication of the threats organizations are facing; IBM recorded 64% more attacks in 2015 compared to the previous year. Much of the $4 million (£2.8 million, €3.6 million) cost, 59% in fact, represents costs associated with cleaning up the incident, such as incident forensics, communications, legal expenditures and regulatory mandates.

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