Average Cost of Managing Data Loss: Almost €2 Million
DATA LOSS—FRANCEApril 16, 2010
A study of 17 French companies and organisations shows that the costs incurred after experiencing a data breach can range from €400,000 to €6.4 million, with the average pricetag coming in around €1.9 million. The "2009 Annual Study: French Cost of a Data Breach," conducted by the Ponemon Institute and PGP Corporation and released Thursday, found that each lost customer record cost an average of €89. "Should the new data breach notification bill that has just been passed by the French Senate be adopted by the National Assembly, the costs associated with handling incidents will surely increase," noted Larry Ponemon of the Ponemon Institute.