What was the real cost of the Target breach?
estimated to have totaled well over $150 million plus legal fees from Target’s data breach. More than $200 million has been lost by the company. Neither industry is safe from data breaches, but it is costly. How Much Does The Average Breach Cost?
What's the real cost of a data breach?
They may or may not have a CISO or director of cybersecurity, yet a data breach can have as significant an impact on operations, reputation, and financial health as the big guys...maybe greater. The average cost of a data breach is between $3.86-$3.92M, depending on the source of your research.
How much does a data breach really cost you?
These data breach costs can range from fines to reputational damage to legal costs. The average data breach cost in 2021 in the U.S. was $217,000 per incident, with a median cost of $179,000. According to Vox, “ One in five small businesses fall victim to a cyberattack, and of those, 60 percent go out of business in six months .”
How much does a data breach cost your organization?
The Cost of a Data Breach Report 2020 (published by IBM) has found a 1.5% decrease in the average cost from $3.92 million in 2019 to $3.86 million in 2020. However, for organizations that have mandated remote work, the average cost of a data breach is $137,000 more, making the global annual cost almost $4 million.