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Quick Responses Lower Data Breach Costs

A new study from IBM Security and the Ponemon Institute has measured exactly how much businesses can save by quickly responding to cyber attacks and data breaches. The average cost of a data breach in the United States is $7.35 million, but businesses that were able to contain a data breach within 30 days were able to lower that figure by an average of $1 million.

Here are some additional findings from the study:

• Incident response teams, data encryption procedures and employee training programs were the most effective ways to lower the costs of a data breach.
• Businesses should evaluate the security of third-party providers to protect their customers’ data.

Filed under: Cyber Liability — Jillian Bender-Cormier @ 6:06 pm August 25, 2017