MCOL July 31, 2020
Clive Riddle

IBM Security has just released their 82-page 2020 Cost of a Data Breach Report, “a global study examining the financial impact of data breaches” finding that overall “these incidents cost companies studied $3.86 million per breach on average, and that compromised employee accounts were the most expensive root cause.”

Healthcare is unfortunately the leading industry in this arena. IBM tells us that “In the healthcare industry, the average cost of a data breach in 2020 was $7.13 million. Of the 17 industries surveyed, healthcare ranked first in average cost. The average time to identify and contain a breach in this industry was 329 days.”

The study was “based on in-depth interviews with more than 3,200 security professional in organizations that suffered...