Fraud News

Average Cost of Data Breach Declines Globally for First Time

Author: Holly Gilbert Stowell / Source: ASIS Security Management

The average cost of a data breach declined 10 percent in 2017 to $3.62 million globally, marking the first time there’s been an overall decrease in the cost, according to a report from IBM Security and the Ponemon Institute. ​​​

The breaches on average run at about $141 per lost or stolen record. But for healthcare organizations a lost record had an average cost of $380; in financial services, the average cost was $245.

For the survey, Ponemon Institute researchers surveyed IT, compliance, and information security professionals representing hundreds of organizations in 12 different countries. The United States and Canada had the most expensive per capita cost per data breach ($225 and $190, respectively). Germany…

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