The cost per record of a data breach is about 58 cents per record, well below the widely accepted previous estimate of about $201 per record, according to Verizon's 2015 Data Breach Investigations Report.

Verizon's calculation was done in conjunction with NetDiligence, which aggregates data from cyber-insurance carriers. The data from Verizon and NetDiligence reflect actual cyber liability claims. The Data Breach Investigations Report (DBIR), released annually based on data provided by Verizon, its customers and partners, examined 191 insurance claims related to loss of payment cards, personal information and medical records.

Mark Kedgley, CTO, New Net Technologies comments, "The premise of this analysis is useful in trying to understand the real cost of a breach, however, the headline conclusion may not be helpful. Calculating an 'average' cost is vital to allow organizations to assess any risk based on real-life data, but the fact still remains that many data breaches run into the millions when it comes to the cost of loss of data such as payment cards, personal information, and medical records."

"Ultimately organizations still need to take control of assessing their own risk, albeit with data from reports like these providing some validation. Either way, the threat of a breach is ever-present and the implementation of security best practices with robust compliance controls the only way to mitigate this."

 

You can read the full article on ZDNet here.

 

 

The Most Powerful & Reliable Cybersecurity Products

change tracker gen7r2 logo

Change Tracker Gen 7R2: Complete configuration and system integrity assurance combined with the most comprehensive and intelligent change control solution available.

FAST Cloud logo

Fast Cloud: Leverage the world’s largest whitelist repository to automatically evaluate and verify the authenticity of file changes in real-time with NNT FAST™ (File Approved-Safe Technology)

vulnerability tracker logo

Vulnerability Tracker: The world’s only limitless and unrestricted vulnerability scanning solution with unparalleled accuracy and efficiency, protecting your IT assets on premises, in the cloud and mobile endpoints.

log tracker logo

Log Tracker: Comprehensive and easy to use security information & event log management with intelligent & self-learning correlation technology to highlight potentially harmful activity in seconds

Contact Us

Corporate Headquarters

Netwrix
6160 Warren Parkway, Suite 100
Frisco, Texas, 75034

Phone 1: 1-949-407-5125

Phone 2: 888-638-9749 (toll-free)


[email protected]
 

United Kingdom

Netwrix
5 New Street Square
London EC4A 3TW

Phone: +44 (0) 203 588 3023


 [email protected]
SC Magazine Cybersecurity 500 CSGEA Winners 2021 CIS benchmarking SEWP Now Certified IBM Security
Copyright 2024, New Net Technologies LLC. All rights reserved. 
NNT and Change Tracker are registered trademarks of New Net Technologies LLC.
All other product, company names and trademarks are the property of their respective owners.