IBM and the Ponemon Institute recently published the latest results of their global study measuring the financial impact of data breaches to the victim companies. While the global average increased to $4 million, up from $3.8 million last year, organizations in the United States, Germany and Canada incur $5 million or more in losses per data breach on average, while certain industries, like healthcare and financial services, tend to have a higher cost per compromised record.
The average cost of a data breach has risen 29 percent since 2013 globally, now at $4 million. This is based on a survey of nearly 400 data breaches that occurred worldwide, including 88 in the U.S. and Canada. Of all nations, the United States had the highest average cost per data breach at $7.01 million. Germany and Canada had the next highest average cost at about $5 million each.