“Security is not a product but a process”
Bruce Schneier
“Security is not a product but a process”
Bruce Schneier
A data breach can have far-reaching consequences, causing financial losses and affecting an organization’s operations and compliance.
Cost of a
Data Breach
$
0
M
Average total cost of a data breach
in the Middle East
1
Days
Average time to identify and contain a breach
in the Middle East
Data breaches caused by malicious attacks are the most common and expensive in the Middle East.
$
0
M
Average lost business cost of data breach
0
Average number of stolen records
$
0
Average cost of each compromised or stolen record
19%
Percentage of companies that suffered a data breach by infiltration due to stolen or compromised records
Cost centers associated with an organization’s data breach
Detection and Escalation
Activities that enable a company to reasonably detect the breach.
- Investigation activities
- Assessment and audit services
- Crisis management
- Communication to executives and board
Lost Business
Activities that attempt to minimize the loss of customers business disruption and revenue losses.
- Cost of lost customers and acquiring new customers
- Reputation losses and diminishing goodwill
- Business disruption and revenue losses from system downtime
Notification
Activities that enable the company to notify data subjects, regulators, and other third parties.
- Emails, letters, outbound calls or general notice to data subjects
- Determination of regulatory requirements
- Communication with regulators
- Engagement of third-party experts
Ex-post response
Activities to help victims of data breach communicate with the company and address activities to victims and regulators.
- Legal expenditures
- Regulatory fines
- Upgraded Credit Monitaring and Identity Protection Services
- Enggement of third-party experts
Breakdown of data breach root causes by country or region
No Data Found
Lost business costs comprised the largest share of the average cost of a data breach
Average Cost of Data Breach
Research has shown that the faster the data breach can be identified and contained, the lower the costs.
0
Days
Average time to detect and contain a data breach
0
Days
Average time to detect and contain a data breach caused by a malicious attack
$
0
Million
Average cost savings of containing a breach in less than 200 days vs. more than 200 days
Related Articles
*Data Sources:
- IBM Security Cost of a Data Breach Report 2019/2020
- https://www.capita.com/sites/g/files/nginej146/files/2020-08/Ponemon-Global-Cost-of-Data-Breach-Study-2020.pdf