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Wendi Whitmore

IBM Study Shows Data Breach Costs on the Rise; Financial Impact Felt for Years

Breaches Pose Growing Risk for Small Businesses, Costing up to 5% of Annual Revenue IBM Security announced the results of its annual study examining the financial impact of data breaches on organizations. According to the report, the cost of a data breach has risen 12% over the past 5 years and now costs $3.92 million on average. These rising expenses are representative of the multiyear financial impact of breaches, increased regulation and the complex process of resolving criminal attacks.2 The financial consequences…