Study shows cost of breach incidents increasing

Study shows cost of breach incidents increasing

May 1

According to a recent Ponemon Institute study the number of data breaches in the United States may be on the decline, but the average price for each business affected is going up.

The study looked at the total cost of breaches last year and the one prior and found the average cost of each compromised file went up around $2 dollars, even though the real number of attacks dropped by more than 100. While Ponemon found fewer breaches occurred due to user negligence and more businesses were encrypting data than before, third-party hacks have seen little change in frequency.

Hacking incidents like that recently suffered by the Utah Department of Health highlight how important backup data can be. An attack on the agency resulted in the private information of nearly 200,000 Utah residents being stolen by a group apparently operating somewhere in Eastern Europe. Boyd Webb of the Utah Department of Technology Services, the group in charge of maintaining the compromised server, said it was a matter of making the data available on the web without proper online backup security. The data lost contained Social Security numbers and medical records.