The average cost of a data breach to companies has risen to £2.8m according to an annual survey from the Ponemon Institute for IBM. According to the study, leveraging an incident response team was the single biggest factor associated with reducing the cost of a data breach – saving companies nearly £282,000 on average (or £11 per record). This marks a 29% increase since 2013. The number of incidents in 2015 rose 64% year-on-year. “Data breaches are becoming more and more common as businesses become increasingly aware that they need to be prepared for them,” said Dr David Smith, director of security at IBM Security. The report found that using an incident response team was the most significant factor that reduced the cost of a data breach, saving an average of £282,000 per company.
The average cost of a data breach to companies has risen to £2.8m according to an annual survey from the Ponemon Institute for IBM. This marks a 29% increase since 2013. The number of incidents in 2015 rose 64% year-on-year. “Data breaches are becoming more and more common as businesses become increasingly aware that they need to be prepared for them,” said Dr David Smith, director of security at IBM Security. The report found that using an incident response team was the most significant factor that reduced the cost of a data breach, saving an average of £282,000 per company.