On Average A Security Breach Costs $4.45 Million But Who Pays … – BizTech Magazine – Business …>
– businessmayor
The average cost of a data breach in the U.S. is $445 million, according to a 2019 report by IBM and the Ponemon Institute. Who pays these costs depends on the type and size of the breach. The most affected party in a breach – either the organization itself or the customers – typically pays for the majority of the costs, while any government fines may also be paid for by the organization. Insurance companies may also pay for certain costs, depending on the policy. In some cases, customers may also be asked to cover some costs, such as credit monitoring services.
Link: https://biztechmagazine.com/article/2023/08/average-security-breach-costs-445-million-who-pays-it?amp/