In a report published by IBM analyzing 500 companies worldwide that experienced data breaches in 2019, we can read that:
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the average total cost of a data breach was $3.92 million,
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the average size of a data breach was 25,575 records,
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the cost per record was $150,
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the average time to identify and contain a breach was 279 days,
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the highest average cost of a data breach occurs in the USA at $8.19 million,
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the highest average cost of a data breach concerns the healthcare industry at $6.45 million,
And what’s more?
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Loss of business is the biggest factor affecting potential financial losses resulting from data breaches,
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Consequences of data breaches are visible for many years,
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The “lifecycle” of a data breach is getting longer,
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Data breaches resulting from application errors or directly from human errors “still cost millions”,
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Encryption, business continuity management, DevSecOps, and threat analysis are the main factors limiting losses related to data breaches,
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Having dedicated SOC teams and regular testing of security procedures allowed to reduce losses related to data breaches by approximately $1.2 million.
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