precisely.com | 877 700 0970 Understanding the Risks of a Data Breach 1 Understanding the Risks of a Data Breach Introduction Anyone who regularly reads newspapers or watches television news does not need to be told that data breaches are serious and prevalent issues. They are reported on frequently, often in ominous tones. According to IBM-sponsored research by Ponemon Institute, in 2020 the average cost of a data breach was $150 for each lost or stolen record that included sensitive and confidential information. When the breach was caused by a malicious attack, the cost per record increased to $175. 1 Clearly, the total cost for an organization varies depending on its size and the magnitude of the breach, but it can represent a material portion of annual revenue. And, keep in

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