What is the cost per record of a data breach?
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What is the cost per record of a data breach?
Year-Over-Year Global Cost of a Data Breach According to the Ponemon Institute’s Cost of a Data Breach Report, the average cost of worldwide data breaches in 2020 amounted to $3.86 million. The figure in 2020 was only slightly lower compared to 2019 when it hit $3.92 million.
How much does the average data breach cost?
According to the latest data breach report by IBM and the Ponemon Institute, the cost of a data breach in 2021 is US$ 4.24 million, this is a 10% rise from the average cost in 2019 which was $3.86 million.
What is the cost of a data breach in 2021?
USD 4.24 million
2021 had the highest average cost in 17 years Data breach costs rose from USD 3.86 million to USD 4.24 million, the highest average total cost in the 17-year history of this report.
What is the cost of a data breach per record according to the Ponemon Institute?
Data breaches with a lifecycle of more than 200 days had an average cost of $4.87 million, compared to $3.61 million when under 200 days.
How much did data breaches cost in 2020?
In 2020, the average cost to businesses affected by a data breach in the United States amounted to 8.64 million U.S. dollars, up from 8.19 million U.S. dollars in the previous year. The global average cost per data breach was 3.86 million U.S. dollars.
Why are data breaches so expensive?
This increase in costs could be due to the remote work environment caused by the COVID-19 pandemic. When a breach was caused, at least in part, by remote work, the average cost of a data breach was $1.07 million higher than breaches where remote work was not a factor.
How much did cyber crime cost in 2021?
US$6 trillion annually
In fact, the damages caused by cybercrime is poised to double amid the Coronavirus outbreak. According to the Official Cybercrime Report published by Cybersecurity Ventures, cybercrime will cost the world US$6 trillion annually by 2021, up from US$3 trillion in 2015.
What is Ponemon study?
Measuring Trust In Privacy and Security Ponemon Institute was founded in 2002 by Dr. Larry Ponemon. Headquartered in Michigan, Ponemon Institute is considered the pre-eminent research center dedicated to privacy, data protection and information security policy.
How much did cyber crime cost in 2019?
$11.5 billion
A 2017 report from Cybersecurity Ventures predicted ransomware damages would cost the world $5 billion in 2017, up from $325 million in 2015 — a 15X increase in just two years. The damages for 2018 were estimated at $8 billion, and for 2019 the figure rose to $11.5 billion.
How much money was lost to ransomware in 2021?
The average cost of a ransomware attack fell to $1.4 million in 2021, down from $1.85 million in 2020. U.S. government data showed a rise in ransomware activity in 2021. The Treasury Department reported $590 million in ransomware-related activity in suspicious activity reports during the first half of 2021.
How much does cybercrime cost?
The report concludes that close to $600 billion, nearly one percent of global GDP, is lost to cybercrime each year, which is up from a 2014 study that put global losses at about $445 billion.
Does anyone pay ransomware?
Sometimes ransomware attackers get much less than they demand; in one case, cyber criminals behind a Suncrypt ransomware attack made a ransom demand of $12 million, only to get paid just $200,000 –1.67% of their ransom demand.
How much did cybercrime cost in 2020?
In general, the average cost of a cyber attack in 2020 was around $133,000. That is the total average of all types of cyber attacks. With such lucrative end results for hackers and other malicious actors, it comes as no surprise that cyber crime costs have grown 15% per year annually over the last 5 years.
Is paying a ransom illegal?
U.S. Dept of Treasury Warns. The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced that paying ransom to cybercriminals is now illegal.
