Data theft: in France, how much does a Data Breach cost?

Data theft in France costs an average of 3.54 million euros, against 3.32 million euros worldwide. This is revealed by the report of the Ponemon Institute commissioned by IBM, among other very interesting statistics concerning theft and data leakage in business.

In recent years, corporate cyber attacks have proliferated. There are different types of computer attacks. Among the most formidable is the ransomware, able to lock access to a computer system until the target company pays a ransom. In addition, at a time when data is of increasing value, attacks aimed at stealing them are also becoming more frequent.

There is no doubt that these data theft has an impact on corporate finances, but IBM wanted to measure that impact. For this reason, the American company called on the Ponemon Institute to question 2200 safety and compliance officers in 477 companies worldwide.

The study reveals that data theft globally costs an average of $ 3.86 million in 2018. This represents an increase of 6.4% over 2017. In the case of mega data theft, “where more than 50 million pieces of information are stolen, the average cost is a whopping $ 350 million.

Moreover, we realize that the cost is proportional to the time of detection and remediation of intrusions. On average, companies take 197 days to detect an intrusion and 69 days to fix it. In cases where the duration is reduced to 30 days, the cost may decrease by $ 1 million.

Other factors come into play when calculating the cost of data theft. For example, an incident response team can reduce the cost by up to $ 14 per record. An artificial intelligence platform for cybersecurity reduces the price of $ 8 per stolen recording.

According to this study, the cost of data theft is highest in healthcare facilities. On average, it amounts to $ 408 per stolen information. Ponemon’s report also highlights the various causes of data theft. In 48% of cases, it is a cyber attack. However, it can also be a human error (in 25% of cases) or a system problem (28%).

Data theft: a cost rising sharply in France

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For France, based on the 31 companies surveyed by Ponemon, the average price of data theft is $ 4.27 million or 3.54 million euros. It is, therefore, more important than the average cost worldwide and represents a massive increase of 8.2% compared to 2017.

However, French companies have managed to reduce the duration of detection and remediation in case of computer intrusion. They take an average of 210 days to detect an intrusion against 214 in 2017, and 75 days instead of 78 to remedy the problem. These two tasks cost them an average of $ 1.45 million.

With 25,000 data stolen on average, France is fourth in the world rankings in terms of the number of stolen data. The top three places are occupied by the United States, the Middle East, and India.

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Ruchi Singla
An enthusiast writer with years of experience, who loves to create beautiful thoughts into words. She writes with a zeal and enjoys reading vogue with a good cup of coffee when not writing. Ruchi is working as a content writer for many businesses, helping them gain an extra edge over their competitors. As a content writer, she is responsible for enhancing engagement and traffic on the blog by brainstorming exciting content ideas.

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