Data Breaches cost $6.6M on average
A new survey by the Ponemon Institute shows an average cost of $6.6 million per breach and over $200 for each record that is compromised.
The report, sponsored by PGP Corp., examined the costs incurred by 43 organizations that experienced a data breach. Breaches ranged as high as 113,000 records and the average total cost per company ranged from more than $613,000 per breach to nearly $32 million.
Added cost is often cited as a reason to delay security measures like data encryption. This survey highlights the even higher costs of doing nothing.