Long accustomed to working for clients in the world’s largest economy, U.S. law firms find themselves with yet another first: bearing the highest cost for data breaches globally, according to IBM’s “2016 Cost of Data Breach Study,” which surveyed 383 companies from over 12 countries that experienced a data breach of 3,000 to more than 101,500 records.
The study found that the average cost of a breach worldwide rose from $3.79 million in 2015 to $4 million in 2016, with the average cost of each stolen record rising $4 to $158. For companies in the U.S., however, the average cost of breach was around $7 million, up from $6.53 million in 2015, with the average cost of each stolen record at $221. Germany and Canada were a distant second and third, with the average cost around $5 million per breach.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
