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Monday, February 25, 2008

How much does a data breach cost UK companies?

Data breaches cost UK companies an average of 47 for every record lost.  This means the average cost to a company which suffers a data breach is 1.4m.

 

The Ponemon Institute isn’t pulling these figures out of the ether - it talked to 21 UK companies about how much actual data breaches cost them.

Customer expectations of trust mean they also suffer a higher cost of lost business.

Phillip Dunkelberger, CEO at PGP Corporation, told The Reg: “Companies are increasingly waking up to the real cost of data losses, especially the cost of losing customers.

Ponemon estimates customer churn rates to go up by an average of 2.5 per cent after a data loss, but the worst example in the UK saw churn rates go up by seven per cent.

http://www.theregister.co.uk/2008/02/25/data_breach_real_cost/

Posted on 02/25
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