The cost of data breach is rising.
Every compromised record containing personally identifiable information, or PII, costs a company about $150.
Companies handle more data than ever before, including sensitive information about employees, customers, vendors, and the company itself. That data represents a valuable asset and a great liability. Direct costs include hiring experts to fix the breach, investigating the cause, and making reparations to victims. Beyond the direct financial costs, data breach damages mount in the form of lost reputation and legal liability.
Citation: IBM and Ponemon Institute, 2015 Cost of Data Breach Study: Global Analysis.