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The annual Ponemon Institute report on data breaches has been released. Among the notable conclusions are the following:
- The average cost of data breach declined.
- Customers remained with companies following the data breach.
- Negligent insiders and malicious attacks were the main causes of data breach.
- Lost business costs from breaches declined.
- Detection and escalation costs declined but notification costs increased.
Taken together, these factors suggest that the process of dealing with data breach is maturing and becoming routinized. Companies know better how to deal with breaches, hence the decreased costs, and improved customer retention. This improved loyalty also is reflected in increased notification costs: companies are spending more but have more to show for it. It would appear we are heading to a state of affairs in which breaches are routine, expected and dealt with.
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