The Average “Cyber Breach” Costs Business £5220 Says this Gov’t Report: Is It Badly Wrong?

Another interesting question would be “How much did you claim on insurance?”…:

[…] “An average cost of £5220? That just seems really, really odd” said Alyn Hockey, a VP at Reading, UK-based cybersecurity company Clearswift: “IBM are quoting numbers like $3.92 million. There’s such a huge disparity here” said Hockey.

He was referring to IBM’s 2019 Cost of a Cyber Breach Report, conducted by the Ponemon Institute and based on data breach costs reported by 507 organizations across 16 geographies and 17 industries. The DCMS’s cost of a cyber breach survey, meanwhile, was based on telephone surveys of 1,348 UK businesses and 337 charities, with the qualitative work augmented with 30 in-depth interviews.

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Original article here