A 23 Percent Increase in Total Cost
The Ponemon survey notes that the average consolidated total cost of a data breach is $3.8 million, representing a 23 percent increase since 2013. “Based on our field research, we identified three major reasons why the cost keeps climbing,” said Dr. Larry Ponemon, chairman and founder of the Ponemon Institute. “First, cyber-attacks are increasing both in frequency and the cost it requires to resolve these security incidents. Second, the financial consequences of losing customers in the aftermath of a breach are having a greater impact on the cost. Third, more companies are incurring higher costs in their forensic and investigative activities, assessments and crisis team management.”

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