{"id":10322,"date":"2020-10-27T07:00:00","date_gmt":"2020-10-27T15:00:00","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=10322"},"modified":"2020-08-07T07:39:49","modified_gmt":"2020-08-07T15:39:49","slug":"security-data-breaches-grow-more-frequent-and-more-costly","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/security-data-breaches-grow-more-frequent-and-more-costly\/","title":{"rendered":"Security: Data Breaches Grow More Frequent and More Costly"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Several new reports on the occurrence and impact of data breaches find that breaches are becoming more frequent and more costly.  <a href=\"https:\/\/www.auditanalytics.com\/doc\/AA_Trends_in_Cybersecurity_Report_May_2020.pdf\">An excellent report by Audit Analytics summarizes data on breaches over the past decade.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A report from <a href=\"https:\/\/www.ibm.com\/security\/data-breach\">Ponemon sponsored by IBM<\/a> found that:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The average cost of a data breach is now $3.86 million.<\/li><li>US businesses are hit hardest with an average cost per breach of $8.64 million<\/li><li>The healthcare industry averages the highest costs at $7.13 million<\/li><li>It takes on average 280 days from when the breach is identified to when it is finally contained.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The Audit Analytics report found that breaches at large public companies can be very expensive.  The average for the larger companies is $116 million.  Although some massive data breaches skew this number upwards, like the <a href=\"https:\/\/www.ftc.gov\/news-events\/press-releases\/2019\/07\/ftc-imposes-5-billion-penalty-sweeping-new-privacy-restrictions\">$5 billion spent by Facebook<\/a> and <a href=\"https:\/\/www.bizjournals.com\/atlanta\/news\/2020\/02\/13\/equifax-says-data-breach-has-cost-it-nearly-2.html\">$2 billion by Equifax<\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"712\" height=\"1024\" src=\"http:\/\/formtek.com\/blog\/wp-content\/uploads\/2020\/08\/image-4-712x1024.png\" alt=\"\" class=\"wp-image-10323\" srcset=\"https:\/\/formtek.com\/blog\/wp-content\/uploads\/2020\/08\/image-4-712x1024.png 712w, https:\/\/formtek.com\/blog\/wp-content\/uploads\/2020\/08\/image-4-208x300.png 208w, https:\/\/formtek.com\/blog\/wp-content\/uploads\/2020\/08\/image-4.png 754w\" sizes=\"auto, (max-width: 712px) 100vw, 712px\" \/><figcaption><a href=\"https:\/\/www.complianceweek.com\/cyber-security\/report-average-data-breach-costs-public-companies-116m\/29037.article\">Created by ComplianceWeek based on data from Audit Analytics<\/a><\/figcaption><\/figure>\n<div class=\"lightsocial_container\"><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/digg.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Fsecurity-data-breaches-grow-more-frequent-and-more-costly%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" src=\"https:\/\/formtek.com\/blog\/wp-content\/plugins\/light-social\/digg.png\" alt=\"Digg This\" title=\"Digg This\" \/><\/a><\/div><div class=\"lightsocial_element\"><a class=\"lightsocial_a\" href=\"http:\/\/www.reddit.com\/submit?url=https%3A%2F%2Fformtek.com%2Fblog%2Fsecurity-data-breaches-grow-more-frequent-and-more-costly%2F&amp;title=\" target=\"_blank\"><img decoding=\"async\" class=\"lightsocial_img\" 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Google Reader)\" title=\"Google Buzz (aka. Google Reader)\" \/><\/a><\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>Several new reports on the occurrence and impact of data breaches find that breaches are becoming more frequent and more costly. An excellent report by Audit Analytics summarizes data on breaches over the past decade. A report from Ponemon sponsored<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/formtek.com\/blog\/security-data-breaches-grow-more-frequent-and-more-costly\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":["post-10322","post","type-post","status-publish","format-standard","hentry","category-security"],"_links":{"self":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/10322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/comments?post=10322"}],"version-history":[{"count":1,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/10322\/revisions"}],"predecessor-version":[{"id":10324,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/posts\/10322\/revisions\/10324"}],"wp:attachment":[{"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/media?parent=10322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/categories?post=10322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/formtek.com\/blog\/wp-json\/wp\/v2\/tags?post=10322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}