It can be hard to navigate which solutions really protect you from the effects of a data breach. Take a look at defending against data breaches by the numbers. That way, you can focus on the modern data security approaches that make next year’s results more promising.
According to the annual Cost of a Data Breach Report, back in 2017 the average cost of a data breach hit $4 million. That figure dipped below $4 million for the next three years, but it jumped back up in 2021. The average cost of a data breach this year was a record $4.24 million. The good news is that this does not have to be the ‘new normal’. Add proven data security intelligence, tools and practices to drive this trend downward.
Attackers Target Your Customers
Customer personally identifiable information (PII) is the most common and most expensive record type regarding data breach impact. It’s a double whammy. Customer PII makes up 44% of all lost or stolen records containing sensitive information. In addition, each customer PII record costs a company an average of $180. Compare that to the overall cost per record of $161. Criminals know what they are looking for and have been successful in getting it, punishing those organizations that fail to protect customer PII.
The Stakes of a Data Breach Are Rising
Compliance violations earned the spot as the top cost-amplifying factor for data breaches in 2021. These often result in penalties that add up. For example, according to the GDPR Enforcement Tracker, from August 2020 to August 2021, total fines have more tha ..
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