In a world of uncertainty and change, it’s a comfort that some things are consistent year after year. Now in its 15th year, the annual Cost of a Data Breach Report, with research by the Ponemon Institute and published by IBM Security, continues to provide a detailed view of the financial impacts security incidents can have on organizations, with historical data revealing trends in data breach causes and consequences.
This year’s study analyzed 524 breaches that occurred between August 2019 and April 2020, in organizations of all sizes, across 17 geographies and 17 industries. The 2020 Cost of a Data Breach Report shows some consistency with past research, including the global total cost of a data breach, which averaged $3.86 million in the 2020 study, down about 1.5% from the 2019 study, but in line with previous years. The average time to identify and contain a data breach was 280 days in the 2020 study, nearly identical to the average of 279 days in 2019.
Yet 2020 has been an exceptional year. In response to the global coronavirus pandemic that has disrupted so many businesses, economies and lives, many organizations have shifted to remote work models. According to survey results in the 2020 Cost of a Data Breach Report, 76% of respondents whose organizations have shifted to remote work expect that working from home could increase the time it takes to identify and contain a data breach. Additionally, 70% of respondents expect remote working could increase the cost of a data breach.
As organizations continue to adjust to COVID-19, to protect their employees’ health, continue to serve customers and ad ..
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