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