IBM’s 2018 Data Breach Study Shows Why We’re In A Zero Trust World Now>
Forbes – Louis Columbus
These and many other insights into the escalating costs of security breaches are from the 2018 Cost of a Data Breach Study sponsored by IBM Security with research independently conducted by Ponemon Institute LLC. The report is downloadable here (PDF, 47 pp. no opt-in). Digital businesses that lost less than 1% of their customers due to a data breach incurred a cost of $2.8M, and if 4% or more were lost the cost soared to $6M. U.S. based breaches are the most expensive globally, costing on average $7.91M with the highest global notification cost as well, $740,000. A typical data breach costs a company $3.86M, up 6.4% from $3.62M last year. Digital businesses that have security automation can minimize the costs of breaches by $1.55M versus those businesses who are not ($2.88M versus $4.43M). 48% of all breaches are initiated by malicious or criminal attacks. Mean-time-to-identify (MTTI) a breach is 197 days, and the mean-time-to-contain (MTTC) is 69 days.
Link: https://www.forbes.com/sites/louiscolumbus/2018/07/27/ibms-2018-data-breach-study-shows-why-were-in-a-zero-trust-world-now/#109f695868ed