Privacy and information management research firm Ponemon Institute has announced the results of its second annual study into the costs incurred by UK enterprises after experiencing a data breach. The ‘2008 Annual Study: UK Cost of a Data Breach,’ found that the average total cost per incident had risen to £1.7 million in 2008, up from 2007's figure of £1.4 million.

On average, each lost customer record cost enterprises £60, a 28 percent increase on 2007's figure of £47. For the second year running, lost business due to reduced consumer trust was the main contributor to overall data breach costs.

The report focuses on the cost of activities resulting from actual data loss incidents, as well as identifying the most frequent causes and likely technology responses to a data breach. The magnitude of breach events included in the survey ranged from 4,100 to more than 92,000 records compromised.

www.ponemon.org

•Date:5th February 2009• Region: UK •Type: Article •Topic: BC statistics
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