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.

Written by Kanguru Solutions — October 31, 2012

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