Data Breach? That'll be £1.9M, Please
DATA LOSS—UKMarch 21, 2011
The cost of an average data breach in the UK is now up to £1.9 million, BBC reports. The 2010 Annual Study: U.K. Cost of a Data Breach, from the Ponemon Institute and Symantec, indicates those costs come from such factors as "clearing up after breaches, loss of clients and rebuilding trust with customers." The study also shows that the cost of data breaches has risen every year for the past three years. "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," the report states. The study also found that system failure was the top reason for breaches.