The true cost of a data breach

We have all read the headlines and know that data breaches are costly incidents for businesses and organizations to deal with.

And GDPR has been ‘done to death’ with the headlines warning about potential fines of up to €20 million or 4 per cent of a company’s global revenue once the EU General Data Protection regulation comes into force next May.

However, the true cost of a data breach is much greater, and is something that is neither widely discussed or documented.

According to the 12th annual Cost of Data Breach Study, carried out by IBM’s Ponemon Institute, the average total cost of a data breach in the UK in 2017 is £2.48 million, with the average cost per lost or stolen record £98.  

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