Fall in data breaches proving costly

Fall in data breaches proving costly

There has been a decrease in data breaches in the UK within the last 12 months, but that has coincided with a growing number of serious incidents, according to a government-backed report.

The most serious breach costs large organisations an average of  between £600,000 and £1.15 million, revealed the Information Security Breaches Survey. In 2013, those numbers stood between £450,000 and £850,000.

PricewaterhouseCoopers conducted the research, which was backed by the Government’s Department for Business Innovation and Skills.

The cost to businesses with fewer than 250 members of staff has approximately increased by 100%, now standing between £65,000 and £115,000.

This is in spite of a slight fall in how many organisations have been affected, down from 86 per cent in 2013 to 81 per cent this year, and 60 per cent of small businesses – a four per cent decrease from 2013.

The median number of breaches in those organisations that have suffered them fell from 21 to 16 within the last year, with smaller businesses falling from 10 to 6.

In spite of the decreases, 55 per cent of those who took part in the research believe there will be an increase in security incidents within the next 12 months.

Organisations will need to prepare for potential breaches within the next year and beyond, which means having personnel trained to prevent and resolve any issues that may arise. They would be wise to post adverts for cyber security vacancies to be as prepared as possible – whether they currently have somebody in that role or not.

Source: http://www.computerweekly.com/news/2240219760/Infosec-2014-UK-data-breaches-slightly-down-but-cost-way-up-report-shows?offer=AcuminMay

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