The number of data breaches is on the rise. And they’re growing increasingly costly to online retailers, particularly those located in the United States.
The global average cost of a data breach to a business is $3.86 million, which is a 6.6% jump from a year earlier. In the U.S., the average price tag swells to $7.91 million per breach, according to the Ponemon Institute’s recently released report “2018 Cost of a Data Breach Study: Global Overview.”
The reason behind those rising costs are twofold; the average cost for each lost record grew 4.8% and the average size of data breaches increased 2.2%. The report was based on interviews with 2,200 information technology, data protection and compliance professionals from 477 companies that have had a data breach in the last 12 months. The results came from companies based in 15 countries, including 65 companies in the U.S., and 7% of the companies were retailers.
This special report features some of the technologies that retailers are using to ensure data security.
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