Wednesday, June 12, 2013

2013 Breach Cost Study: Healthcare Highest at $233/Person

The 2013 Cost of Data Breach Study, conducted by the Ponemon Institute, found the average global cost of a data breach was $136 in 2012, a $6 increase over 2011. For financial services and healthcare organizations, which hold more personally identifiable information, the cost was $215 and $233 per person, respectively. For example, $233,000 if 1,000 patient records are inappropriately accessed at a healthcare facility.

Mr. Ponemon said that regulations initially mean higher breach related expenses but eventually could save companies money.

"Healthcare and financial services companies maintain more personally identifiable information on their servers than enterprises in other sectors."
- Larry Ponemon, Ponemon Institute
An approach to data breaches that can save organizations money initially as well as long term is low-cost on-demand SaaS detection analytics services.
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Sources:
(a) Regulations' Impact on Data Breach Costs - www.BankInfoSecurity.com, 06/11/2013

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