The Prolonged Cost of a Data Breach
The IBM/Ponemon Institute "Cost of a Data Breach" report is in its 14th year, capturing longitudinal trends in the way data breaches are evolving over time. In this year's report, fresh data sheds light on the prolonged financial impact of a data breach due to regulatory fines and litigation.
"What surprised me this year was the financial impact that is being felt for years," states Limor Kessem, Global Executive Security Advisor, IBM Security.
"While the average of 67 percent of data breach costs were realized in the first year, there were a third that were accrued in the second and third years - even if they thought they were going to see the end of it after they remediated and went back into operational mode. They are seeing a good chunk of costs come later."
In the interview (see audio link below photo), Kessem discusses:
- Longitudinal trends captured in the research;
- The prolonged costs associated with a data breach after remediation efforts;
- How smaller businesses can better defend themselves from data breaches.
Kessem is one of the top cyber intelligence experts at IBM Security. She is a seasoned security advocate, public speaker and a prolific author of cybersecurity thought leadership.
Gloss