European Data Protection Digest

Survey: Incident Response Plans Save Money

DATA LOSS—UK

June 13, 2013

A recent Symantec breach survey conducted by the Ponemon Institute indicates a 15-percent increase in the average cost of data breaches in the UK from 2011 to 2012 with the average organisational cost up from 1.75 million GBP in 2011 to more than 2 million GBP. However, Out-Law.com reports, “Symantec said that UK firms that took certain steps, including having a ‘formal incident response plan’ to implement if they experience a data breach, could save costs usually associated with a breach.” Organisations with such plan in place prior to a breach incident saw a reduction of as much as 13 GBP per record, the survey report states.
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