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What Does a Data Breach Cost?
- 1.
- 2. Assessing the riskof 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. of experiencing adata breach involving 10,000 or more lost or stolen records. The average company has a 1 4 CHANCE IN
- 4. Globally the average costof a data breach is 4MILLION $
- 5. The average databreach 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. This cost maybe 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. WHAT MAKES UP THECOST OF A
- 8. While mostly dependent onthe number of records lost, the overall cost of a breach can be broken down into 4 main components.
- 9.
- 10. DETECTION & ESCALATION COSTS Forensics,investigation, assessments and audits, crisis management and internal communication. MILLION 1.01$
- 11. MILLION 1.02$ RESPONSE COSTS Help desk activities, specialinvestigations, legal expenses, identity protection services, etc.
- 12. MILLION 1.51$ LOST BUSINESS COSTS Abnormal customerchurn and increased customer acquisition activities in the face of reputation loss and damaged goodwill.
- 13. THOUSAND 165$ NOTIFICATION COSTS Creating contact databases,compliance with regulatory requirements, and the cost of postal and electronic communication systems.
- 14. 2 FACTORS IMPACT THECOST PER RECORD OF A DATA BREACH: TYPE OF INDUSTRY TIME TO DETECTION & CONTAINTMENT
- 15.
- 16. 3.18MILLION 30 DAYS $ 4.35MILLION 30 DAYS $ TOTAL AVERAGECOST BASED ON TIME TO CONTAIN
- 17. HOW TO MITIGATE THECOST OF A
- 18. IT Teams canmake significant impact in lowering the cost of security breaches by improving their ability to prevent, detect, and respond.
- 19. THE MOST SIGNIFICANT FACTORS THAT REDUCETHE COST OF SECURITY BREACHES: ENCRYPTION INCIDENT RESPONSE PLANS DATA LOSS PREVENTION CONTROLS TRAINING & AWARENESS
- 20. PER CAPITA COST REDUCTIONBY FACTOR 8$ 13$ 16$ 9$ DATALOSS PREVENTION ENCRYPTION INCIDENTRESPONSEPLANS TRAINING& AWARENESS
- 21. TRAINING AND CERTIFICATION ALLOWIT TEAMS TO REDUCE COSTS BY QUICKLY DETECTING AND ADDRESSING SECURITY BREACHES.
- 22. Certified IT staffevaluate and respond rapidly to security attacks 26% more often.
- 23. NOT ALL BREACHES ARE THERESULT OF
- 24. MORE THAN HALF OFALL BREACHES ARE THE RESULT OF HUMAN OR SYSTEM
- 25. TRAINING REDUCES THE LIKELIHOODOF HUMAN ERROR, AND PREVENTS MALICIOUS ATTACKS.
- 26. AN INVESTMENT IN TRAININGCAN PREVENT THE SIGNIFICANT EXPENDITURES ASSOCIATED WITH DATA LOSS OR THEFT.
- 27. Network resources managedby certified staff are in compliance with industry security policies for access control 10% more often.
- 28. Well-trained information security teamswere on average 10% more productive than their peers, and account for an average gain of $70,000 in annual improvements.
- 29. Prepare your teamto prevent security issues, starting with these CBT Nuggets training courses.
- 30. CompTIA Security+ Cisco CCNPSecurity 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.