NetConnect

The Cost of a Data Breach Just Went Up!

IBM Security and Ponemon Institute just released the 2019 Cost of a Data Breach Report.

"Based on in-depth interviews with more than 500 companies around the world who experienced a data breach between July 2018 and April 2019, the analysis in this research study takes into account hundreds of cost factors, from legal, regulatory and technical activities, to loss of brand equity, customer turnover, and the drain on employee productivity."

2019 Cost of a Data Breach Report

The report has a number of alarming statistics, and we’re going to highlight a few of them here!

Average total cost of a data breach: $3.92 Million

This number is actually higher than last year’s $3.86 Million. The cost of a data breach continues to grow as more “mega breaches” (Breaches greater than 1 million records) occur. 

Small Businesses face disproportionately larger costs - relative to larger organizations

While the total cost of a data breach is almost double for larger organizations, small businesses have an incredibly higher cost per employee ratio. It’s much harder for smaller organizations to bounce back from a data breach – many businesses cannot continue operating after an incident. 

The odds of experiencing a data has increased dramatically

In the span of six years, the chance an organization will experience a data breach has risen from 22.6% to 29.6 percent. These percentages estimate the chance that an organization will experience a data breach within two years.

That’s a HUGE jump!

To see the 2019 Cost of a Data Breach study yourself, click here!

Regardless of your organization’s size, NetConnect can help you mitigate the chances that a cyber attack inflicts serious harm to your business.

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DATA BREACHES CAN HAPPEN TO BUSINESSES OF ANY SIZE

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