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Costs rise on data breach fallout

Costs rise on data breach fallout

Security breaches, in which firms lose data by malice or neglect, are costing more to deal with, suggests a report.

The average data breach costs UK firms about £1.9m annually, found the report from security firm Symantec.

The expenses are generated by clearing up after breaches, loss of clients and rebuilding trust with customers.

The costs have gone up for the third year running as the number of attacks rises and regulators push firms to keep defences up to date.

The biggest incident logged in the report cost the firm involved about £6.2m, a leap of £2.3m from the biggest incident in 2009.

System failures, of both policies and technology, accounted for the biggest proportion, 37%, of all cases sampled for the report which was written with the aid of the Ponemon Institute.

Read More/Source: BBC News

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