It costs $4M to respond to a data breach: This and 6 more key findings from IBM
Across industries and across the globe, the average cost of a data breach is now $4 million, up from $3.79 million in 2015, according to the “2016 Cost of a Data Breach Study: Global Analysis” from IBM and Ponemon Institute. The report also found healthcare breaches are among the most costly.
Finding number – 3. Incident response teams were observed to reduce the cost of a data breach resolution by $16 per record. Employee training reduced the cost by $9, board-level involvement reduced the cost by $6 and insurance protection reduced the cost by $5.
Are you doing all you can to reduce the cost of data breaches? Employees and your Board are one of your first lines of defense. Ask us how to strengthen these critical components of your cyber approach.