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In terms of cost, the average cost of a data breach of 1 million compromised records is close to $ 40 million.
In 2017-2018, the average cost per lost or stolen head has increased 7.8% to ₹ 4,552, according to a report by IBM Security released Wednesday. According to the results, malicious or criminal attacks were behind 42% of data breaches in India, followed by glitches in the system at 30% and human errors at 28%. to identify a data breach has gone from 170 to 188 days. k 219 days average to identify, system problems took 175 days and human errors 155 days.
According to the report, the average time to contain a data breach increased from 72 days to 78 days – malicious or criminal attacks lasted 99 days, followed by system glitches and human errors taking respectively 65 and 60 days
. The study found that overall hidden costs, such as business losses, negative repercussions on reputation and employees' time to recover, were enormous and difficult to manage.
Calculation of the cost of a mega-offense
Over the last five years, the number of mega-offenses (loss of more than one million records) has almost doubled from nine in 2013 to 16 in 2017 In terms of cost, the average cost of a data breach of 1 million compromised records is nearly 40 million. At 50 million records, the estimated cost of a violation is $ 350 million. The vast majority of these violations (10 out of 11) stem from malicious and criminal attacks.
For mega-violations, the largest expense category was that of the costs badociated with the loss of business, estimated at nearly $ 118 million for violations of 50 million records.
The report also examined the effect of security automation tools, which use artificial intelligence, machine learning and badysis to increase or replace the Human intervention in the identification and containment of a violation. He said organizations, which had widely deployed automated security technologies, saved a lot of money. "The threat scenario shows a significant increase in the number and sophistication of violations in this year's report, which is alarming as it continues to increase in India," said Vikas Arora, head of transformation. from IBM India and South Asia. First published: Wed, Jul 11, 2018. 11 11 PM IST
