There are various factors that can mitigate or amplify the cost of a data breach. According to 2020 industry data, the formation of an incidence response team could reduce the average total cost of a data breach by almost 273,000 U.S. dollars. Same went for incident response testing, which was also a strongly mitigating factor when calculating data breach damages. In 2019, the average total cost of a data breach amounted to 3.86 million U.S. dollars.
Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost
(in U.S. dollars)
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Cost mitigators
Cost amplifiers
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IBM. (August 3, 2020). Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost (in U.S. dollars) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/
IBM. "Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost (in U.S. dollars)." Chart. August 3, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/
IBM. (2020). Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost (in U.S. dollars). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/
IBM. "Leading Cyber Crime Damage Cost Mitigators and Amplifiers Worldwide as of 2020, by Difference from Average Data Breach Cost (in U.S. Dollars)." Statista, Statista Inc., 3 Aug 2020, https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/
IBM, Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost (in U.S. dollars) Statista, https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/ (last visited July 22, 2024)
Leading cyber crime damage cost mitigators and amplifiers worldwide as of 2020, by difference from average data breach cost (in U.S. dollars) [Graph], IBM, August 3, 2020. [Online]. Available: https://www.statista.com/statistics/500854/worldwide-cost-it-security-incidents-by-company-size/
