Making Sense of Security Breach Cost Numbers
Larry Walsh writes:
What is the most expensive security breach ever? Before you answer, read the rest of this blog (trust me, you’re probably wrong).
According to a recent report by the Ponemon Institute, the mean corporate loss to IT security breaches last year was $3.8 million. During the four-week study period, participating companies reported being the subjected to at least 50 known attacks. And these companies reported taking as long as 14 days at a cost of nearly $18,000 per day to remediate a security breach.
The Digital Forensics Association also released an analysis of more than 2,800 publicly disclosed data breaches over the last five years that caused $139 billion – that’s a 12-digit number – in damages. This isn’t precise math, but if you do some rough numbers on the back of a napkin you’ll calculate a cost of about $9 million per breach.
Now if these numbers are making your eyes spin, let me put them into perspective.
Read more on CompTIA.