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What Does a Data Breach Cost?

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Assessing the risk of a data breach is the first step toward preparing your defensive strategy. Learn what factors affect the cost of a data breach and what you can do to mitigate the damage. IT teams can make a significant impact in lowering the cost of security breaches by improving their ability to prevent, detect, and respond. Learn more about information security with CBT Nuggets. http://bit.ly/2a6cNwm

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  • well informative because humans are the weakest link to data breach. So there is more to do by training the user through awareness program.
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What Does a Data Breach Cost?

  1. 1. WHAT DOES A COST?
  2. 2. Assessing the risk of a data breach is the first step toward preparing your defensive strategy. Learn what factors affect the cost of a data breach and what you can do to mitigate the damage.
  3. 3. of experiencing a data breach involving 10,000 or more lost or stolen records. The average company has a 1 4 CHANCE IN
  4. 4. Globally the average cost of a data breach is 4MILLION $
  5. 5. The average data breach in 2016 was 29% more costly than just 3 years previous. AVG. COST PER RECORD 158$ 137$ AVG. COST PER BREACH mil4$ mil3.1$ AVG. RECORDS COMPROMISED 23,83422,627
  6. 6. This cost may be be higher or lower depending on where you are. mil7$ mil5$ mil AVG. COST PER BREACH (2016) $4million 1.8$ mil1.6$ GERMANY USA S. AFRICA INDIA
  7. 7. WHAT MAKES UP THE COST OF A
  8. 8. While mostly dependent on the number of records lost, the overall cost of a breach can be broken down into 4 main components.
  9. 9. DETECTION & ESCALATION OTHER NOTIFICATION RESPONSE LOST BUSINESS 37% 25% 25% 8% 5% COST OF BREACH
  10. 10. DETECTION & ESCALATION COSTS Forensics, investigation, assessments and audits, crisis management and internal communication. MILLION 1.01$
  11. 11. MILLION 1.02$ RESPONSE COSTS Help desk activities, special investigations, legal expenses, identity protection services, etc.
  12. 12. MILLION 1.51$ LOST BUSINESS COSTS Abnormal customer churn and increased customer acquisition activities in the face of reputation loss and damaged goodwill.
  13. 13. THOUSAND 165$ NOTIFICATION COSTS Creating contact databases, compliance with regulatory requirements, and the cost of postal and electronic communication systems.
  14. 14. 2 FACTORS IMPACT THE COST PER RECORD OF A DATA BREACH: TYPE OF INDUSTRY TIME TO DETECTION & CONTAINTMENT
  15. 15. HEALTHCARE EDUCATION RETAIL COMMUNICATIONS ENERGY TECHNOLOGY TRANSPORTATION PUBLIC 355$ 246$ 172$ 164$ 148$ 145$ 129$ 80$ COST PER RECORD BY INDUSTRY
  16. 16. 3.18MILLION 30 DAYS $ 4.35MILLION 30 DAYS $ TOTAL AVERAGE COST BASED ON TIME TO CONTAIN
  17. 17. HOW TO MITIGATE THE COST OF A
  18. 18. IT Teams can make significant impact in lowering the cost of security breaches by improving their ability to prevent, detect, and respond.
  19. 19. THE MOST SIGNIFICANT FACTORS THAT REDUCE THE COST OF SECURITY BREACHES: ENCRYPTION INCIDENT RESPONSE PLANS DATA LOSS PREVENTION CONTROLS TRAINING & AWARENESS
  20. 20. PER CAPITA COST REDUCTION BY FACTOR 8$ 13$ 16$ 9$ DATALOSS PREVENTION ENCRYPTION INCIDENTRESPONSEPLANS TRAINING& AWARENESS
  21. 21. TRAINING AND CERTIFICATION ALLOW IT TEAMS TO REDUCE COSTS BY QUICKLY DETECTING AND ADDRESSING SECURITY BREACHES.
  22. 22. Certified IT staff evaluate and respond rapidly to security attacks 26% more often.
  23. 23. NOT ALL BREACHES ARE THE RESULT OF
  24. 24. MORE THAN HALF OF ALL BREACHES ARE THE RESULT OF HUMAN OR SYSTEM
  25. 25. TRAINING REDUCES THE LIKELIHOOD OF HUMAN ERROR, AND PREVENTS MALICIOUS ATTACKS.
  26. 26. AN INVESTMENT IN TRAINING CAN PREVENT THE SIGNIFICANT EXPENDITURES ASSOCIATED WITH DATA LOSS OR THEFT.
  27. 27. Network resources managed by certified staff are in compliance with industry security policies for access control 10% more often.
  28. 28. Well-trained information security teams were on average 10% more productive than their peers, and account for an average gain of $70,000 in annual improvements.
  29. 29. Prepare your team to prevent security issues, starting with these CBT Nuggets training courses.
  30. 30. CompTIA Security+ Cisco CCNP Security Certified Information Systems Security Professional with trainer Keith Barker Identify risk, provide infrastructure, application information, and operational security. Integrate an IPS, firewall components, and cloud/email security solutions. Learn security strategies and solutions for industries from banking and financial to government and public utilities, as well as high-tech and hospitality.

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