Data breach costs are on the rise. In the U.S., the average cost of a data breach spiked nearly 8% from last year to hit a record high of almost $8 million per breach.
That’s the conclusion from a study released last week by the Ponemon Institute LLC. In its annual “2018 Cost of a Data Breach Study,” researchers concluded that breach costs are still trending up, though there’s a silver lining in the form of cost mitigation for proactive organizations. Researchers found that companies which took a series of proactive measures were able to reduce the costs of a data breach substantially. We'll discuss that later in this post.