Ponemon Institute 2013 Cost of Data Breach report available

The latest 2013 Cost of Data Breach report has been published by the Ponemon Institute (sponsored by Symantec) and as always, reveals some interesting and valuable insight into the real-life cost when a data breach occurs.

The report draws on data collected throughout 2012 and examines the costs experienced by 277 organizations across 9 countries.

To save you time, we have highlighted the key statistics for the US, UK, and Australia.

Global Summary

The full global report is located here

United States (amounts shown in USD)

• The average cost per compromised record is $188 USD (down from $194 in 2011)
• Ranked #1 for the highest average total organizational cost at $5,403,644
• Ranked #1 for the highest average notification cost at $565,020
• Ranked #1 for highest average flow-on cost (ex-post) at $1,412,548
• Ranked #1 for average lost business costs at $3,030,814
• US organizations experienced greater impact if the breach is caused by a 3rd party error (increased per-record cost by up to $43)
• US organizations Experienced less customer churn after a data breach compared to other countries (2.8%)

A copy of the United States report is available here

United Kingdom (amounts shown in GBP)

• The average cost per compromised record is £86 (up from £79 in 2011)
• The average total organizational cost was £2,040,000
• The average notification cost was £160,000 (up from £140,000 in 2011)
• The average flow-on cost (ex-post) was £510,000 (up from £450,000 in 2011)
• The average lost business costs was £920,000 (up from £780,000 in 2011)
• UK businesses experienced higher customer churn of 3.1% after a data breach compared to the US and Japan

The complete United Kingdom report is located here.

Australia (amounts shown in AUD)

• The average cost per compromised record is $141 (up from $138 in 2011)
• The average total organisational cost was $2,720,000 (up from $2,160,000 in 2011)
• The average notification cost was $88,000 (up from $76,000 in 2011)
• The average flow-on cost (ex-post) was $810,000 (up from $470,000 in 2011)
• The average lost business costs was $780,000 (down from $840,000 in 2011)
• Australia experienced the highest average number of breached records at 34,249.
• Australia had the second highest detection and escalation cost of $1,400,000 (up from $770,000 in 2011)
• Australian businesses experienced 2nd highest customer churn rate of 4.0% after a data breach, second only to France.

The complete Australia report is located here.