IBM Pegs Mega Breach Cost at $350M, as Average Breach Cost Hits $3.9M
July 11, 2018 / Sean Michael Kerner
The 2018 Cost of a Data Breach Study found that costs have risen in the past year as attacks become increasingly complex. The cost of data breaches has increased over the past year, according to the 2018 Cost of a Data Breach Study conducted by the Ponemon Institute and sponsored by IBM, which was released on July 11. The new report found that the average cost of a data breach is now $3.86 million, which is a 6.4 percent increase over the figure reported in 2017. The $3.86 million figure is the total average cost of data breaches from an analysis of 477 companies around the world. The general sample does not include mega breaches, in which between 1 million and 50 million records are stolen. Mega breaches had much higher costs, ranging from $40 million to $350 million. The study's figures for mega breaches, however, do not include costs for the Equifax breach, which occurred at the end of 2017.