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Ponemon Study Indicates Organizational Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off

March 15, 2011 Comments off

Ponemon Study Indicates Organizational Data Breach Costs Hit $7.2 Million and Show No Sign of Leveling Off
Source: Ponemon Institute

Symantec Corp. and the Ponemon Institute today released the findings of the 2010 Annual Study: U.S. Cost of a Data Breach, which reveals data breaches grew more costly for the fifth year in a row. The average organizational cost of a data breach increased to $7.2 million and cost companies an average of $214 per compromised record, markedly higher when compared to $204 in 2009. The study also found that for the second straight year organizations’ need to respond rapidly to data breaches drove the associated costs higher. The sixth annual Ponemon Cost of a Data Breach report is based on the actual data breach experiences of 51 U.S. companies from 15 different industry sectors.

+ Full report and associated documents

Categories: business and economics, Ponemon Institute, privacy and security, technology and internet
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