Intelligent CIO Middle East Issue 41 | Page 18

LATEST INTELLIGENCE 2018 COST OF A DATA BREACH STUDY BENCHMARK RESEARCH SPONSORED BY IBM SECURITY INDEPENDENTLY CONDUCTED BY PONEMON INSTITUTE LLC GLOBAL OVERVIEW PRESENTED BY Download whitepaper here I BM Security and Ponemon Institute are pleased to release the 2018 Cost of Data Breach Study: Global Overview. This year we conducted interviews with more than 2,200 IT, data protection, and compliance professionals from 477 companies that have experienced a data breach over the past 12 months. According to the findings, data breaches continue to be costlier and result in more consumer records being lost or stolen, year after year. In addition to presenting trends in the various components of the cost of a data breach, the global study determines the likelihood that an organization will have one or more data breaches in the next two years. This year we found that the average total cost of a data breach, the average cost for each lost or stolen record (per capita cost), and the average size of data breaches have all increased beyond the 2017 report averages: • The average global probability of a material breach in the next 24 months is 27.9 percent, an increase over last year’s 27.7 percent • South Africa has the highest probability of experiencing a data breach at 43 percent • Germany has the lowest probability of having a future data breach at 14.3 percent. • The average total cost rose from $3.62 to $3.86 million, an increase of 6.4 percent • The average cost for each lost record rose from $141 to $148, an increase of 4.8 percent • The average size of the data breaches in this research increased by 2.2 percent 18 INTELLIGENTCIO Two factors were used to determine the probability of a future data breach: the size of the data breach reported in this year’s research and where the organization is located. As in past years, our study reports on the relationship between how quickly an organization can identify and contain data breach incidents and the financial consequences. www.intelligentcio.com