The 2019 Cost of a Data Breach report is out and unsurprisingly the cost of data breaches has increased 12% over the last five years and now costs companies $3.92 million on average, globally; with smaller businesses being hit hardest because of lower annual revenue. The report also, for the first time, details the “longtail costs” of a data breach looking at years worth of consequences. Understanding the rising costs associated with a data breach and the data surrounding its increase will help security professionals identify areas they could save money, in the inevitable event of a data breach.
In this post, we are reviewing the 2019 Cost of a Data breach study from IBM. Let’s take a look at the rising cost of data breaches, and the factors impacting cost increases and reductions for business