Mega breaches that compromise 50m records or more cost businesses $392m on average. By Anthony Spadafora.
Falling victim to a data breach can be devastating for a company’s reputation as well as to its bottom line with each breach costing companies $3.86m per breach according to a new report from IBM.
To compile it’s new 2020 Cost of a Data Breach Report, IBM Security and the Ponemon Institute interviewed more than 3,200 security professionals from over 500 organizations worldwide that suffered a data breach over the past year.
The report found that businesses that had deployed security automation technologies, which leverage AI, analytics and automated orchestration to identify and respond to security events, experienced less than half the data breach costs than those who didn’t at $2.45m per breach as opposed to $6.03m on average.
- They put together a list of the best disaster recovery services
- Find missing data with the best data recovery software
- They’ve also highlighted the best ransomware protection
While the average cost of a data breach decreased by 1.5 percent when compared to last year, mega breaches where over 50m records were compromised saw costs jump from $388m to $392m this year. Make sure to follow the link to the report on IBM site as you will get more information and various documents in pdf format. Great report!
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