Cost of recovering from a single data breach up 31 percent
29th November 2007 by Sarah Whitworth
The cost of recovering from a single data breach now averages $6.3 million-that’s up 31 percent since 2006 and nearly 90 percent since 2005, according to the Ponemon Institute, which studies privacy and information management.
Two-thirds of that cost is spent recovering business that’s lost after a breach, a cost that has risen 30 percent since last year. More customers stop doing business with a company after their information is exposed, and it’s getting more expensive to replace them.
