The average cost to UK organizations of a data breach has risen by over 7% over the past two years to reach £2.37 million, or £104 per stolen record, according to the latest Ponemon Institute figures.

The research firm has teamed up once again with IBM to release this year’s Cost of Data Breach Study which comprised stats from 39 breached companies from 12 different sectors.

The report claimed that costs associated with detection and escalation, as well as lost business, increased last year, but that notification and cyber defense costs decreased.

Extensive use of encryption; incident response plans; File Management and board level involvement; employee training; CISO appointment; and insurance protection are all good ideas as they lead to lower breach costs.

 

You can read the full story on Infosecurity Magazine here.

 

 

 

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