Average Data Breach Cost In India Increases To Rs 12.8 Crore

According to IBM’s study published on July 23, the average data breach cost in India increased by 7.29% year over year, reaching Rs 12.8 crore from Rs 11.9 crore of 2018.

Per capita cost per stolen or lost record hit Rs 5,019. That means there is a 9.76% increase compared to the previous year. The data was revealed in IBM’s report named “Cost of a Data Breach.”

According to the findings, up to 51% of data breaches were caused by criminal or malicious attacks, 22% by human errors, and about 27% by system glitches.

The Security Software Leader of IBM India, South Asia Vaidyanathan Iyer stated that

IBM built the findings by conducting a variety of in-depth interviews with over 500 various companies all over the world. All of these companies had a data breach during the last 12 months.

In addition, the study also checked the data breach cost in many different regions and industries. Accordingly, the cost of data breaches in the United States reportedly reaches 8.19 million dollars, much more expensive than the average cost global companies have to pay.

Based on the study, the data breach costs in the United States have grown 130 per cent during the recent 14 years, increasing from 3.54 million dollars in 2006.

This is the ninth consecutive year healthcare organizations hit the highest data breach cost, approximately 6.5 million dollars on average, 60% higher than other industries mentioned in this study.