Data BreachIndustry News

$3.62 Million – Average 2017 Cost of Data Breach

INDUSTRY NEWS:

Source: Scrypt

“According to the 2017 Cost of Data Breach Study, healthcare data breach costs are the highest among all sectors for the seventh year straight.

The annual study, conducted by Ponemon Institute and sponsored by IBM Security, reveals that the average cost of a data breach is currently $3.62 million globally, which is actually a 10% decline from 2016. However, it is not all good news – a closer look at the data reveals that the decline does not apply to all countries – for example, the cost of a data breach in the U.S. has hit an all time high at $7.35 million, a 5% increase compared to last year.

In the US alone, data breaches cost organizations an average of $225 per record compromised. Strictly regulated industries were subject to higher data breach costs, with healthcare footing the largest bill at $380 per record – this is more than double the global average of $141 per record across all industries. This is followed by financial services ($336 per capita), services ($274), life science ($264), and industrial ($259).”

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