With UK businesses under an increased threat of criminal online attacks, do retailers truly understand the impact a hack will have?
An estimated 2.6 billion company records were compromised in 2017, according to recent research by digital security company Gemalto.
The cost of a data breach – including forensics, investigations, legal fees, victim notifications and customer churn – varies by country and industry.
But there’s one certainty across the board – the more records you lose the more costly it gets.
A 2018 study by the Ponemon Institute found that the average cost of a data breach globally is more than £3 million – a 6.4% rise since a similar study was conducted in 2017.
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