Data Breach Costs Rise, Healthcare Industry Hardest Hit

Posted: Tue, 08/09/2016 - 4:06pm

A new report issued by the Ponemon Institute and sponsored by IBM revealed that the cost of data breaches is trending upward. In an examination of breaches at 350 companies spread across 11 countries, the report found the average loss incurred for each lost or stolen record rose from $145 to $154.

Overall, the average total cost of the breaches - most of which occurred in 2014 - included in the report was roughly $3.8 million. Healthcare companies fared the worst, with the average cost per stolen record reaching as high as $363, while retailers saw their average cost per record jump from $105 in last year's study to $165 in this year's.

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