How Much Would a Data Breach Cost Your Company

No wonder cyber security is such a high priority for your company! The average cost of a data breach is a cool $4M.

Now in its 15th year, the annual data breach cost report from the Ponemon Institute and IBM provides a detailed view of the financial impact security incidents have on organizations. In this year’s study, the total cost of a data breach averaged $3.86 million, down a little bit from last year but in line with previous years.

How long can it take to even identify a data breach?
Almost a whole year! The average time to identify and contain a data breach was 280 days in the 2020 study, nearly identical to the average of 279 days in 2019. 

How can you help to prevent it?
Many if not most data breaches happen because an employee mistakenly lets the hacker in by clicking on an unfamiliar link or exposing the network to the outside world. Be very cautious when dealing with out of the ordinary emails and unfamiliar links. Follow your company’s guidelines when working remotely.

© National Security Institute, Inc.


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