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Data breach costs rising, financial impact felt for years – IBM
- Friday | 26th July, 2019
IBM Security today announced the results of its annual study examining the financial impact of data breaches on organizations. The financial consequences of a data breach can be particularly acute for small and midsize businesses. For the first time this year, the report also examined the longtail financial impact of a data breach, finding that the effects of a data breach are felt for years. Average costs of lost business for organisations amounted to US$1.42 million, which represents 36% of the total average costs of US$3.92 million globally. Moreover, the most costly data breaches result from malicious attacks (43% of all data breaches), either from within or outside of a company, compared to system glitches and human errors.
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