Data breach: What are the costs?

15. September 2016

Although it is difficult to predict the exact costs of a data breach as it depend on the individual case, the new Ponemon-IBM study tries to examine the costs arising in such a case.

The results can be summed up so that

  • the average breach caused $4 million in damage or in other words
  • roughly $158 per lost record have to be paid.

Privacy Ref, Bob Siegel tried to analyze what a data breach would cost for individual organizations as a part of a project with St. Joseph’s University professor Ronald Klimberg. For this projects undergraduate data analytics students compete to create the best metric in order to predict the impact of a data breach on an organization.

Category: Data Breach
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