Single data breach costs nearly Rs 12 crore in India: IBM study

In the past five years, the amount of mega breaches has nearly doubled, from just nine mega breaches in 2013 to 16 mega breaches in 2017. The findings showed that data breaches are most costly in the US and the Middle East, and least costly in Brazil and India. Bengaluru: The estimated average cost of a data breach in India went up to Rs 11.9 crore in 2017 — a nearly eight per cent increase from 2016, an IBM study revealed on Wednesday. For example, the study found that one-third of the cost of “mega breaches” — involving over one million lost records — were derived from lost business. Malicious or criminal attacks were the root cause for 42 per cent of data breaches, according to the 2018 edition of the “Cost of a Data Breach” study conducted by US-based Ponemon Institute on behalf of IBM Security.


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