The cost, frequency, and sophistication of data breaches are on the rise. According to the latest data breach statistics, many high-profile companies have been targeted by major cyber attacks. As a result, data privacy and security have moved to the forefront of boardroom visibility.
The result was new legislation in the US, Europe, and Australia, most of it coming into effect in 2018. Organizations must now adhere to new rules specifying user notifications and timeframes, business size applications, and reporting requirements.
Even without the fines, the cost of data breaches was already high. Today there’s the cost behind updating data systems, hiring forensic investigators to look into the incident, briefing the legal department, and paying up settlements with dissatisfied customers. This also includes the potential damages from the worst hacks involving espionage and IP theft, where your competitors can learn about your business practices and future plans.
With all this in mind, what are the risks for you as a customer, as a social network user, or as a company? What particular type of data breach might affect you, depending on the data you’re storing? And how can data breaches be prevented? Check out these statistics and find out what you should be on the lookout for, as well as what steps you should take to minimize damage if you’ve been compromised.
Key Data Breach Stats Takeaways
According to the Breach Level Index, roughly 10 billion records have been breached since 2013
The average total cost of a data breach is $3.86 million
24% of breaches affect the healthcare organizations
In 2018 Fa