Security Watch: IBM and Ponemon release new cost of data breach study

A new study by the Ponemon Institute, sponsored by IBM, says the cost of data breaches is continuing to rise with an increase 23% over the past couple of years. The study, which is aimed at large enterprises, found the average price tag for data breach clean up is US$3.8 million.

The report says almost half of the incidents involve a malicious or criminal attack, with a quarter involving a negligent employee or contractor and 29% involving system glitches including IT and business process failures. Almost one in every six breaches was a result of an insider attack and over half were caused by human error.

The time to detection that has been reported over the last few years hasn't moved significantly with enterprises taking, on average, 256 days to know a breach has occurred.

The full report can be downloaded here.

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